Artisan Real Estate is set to progress with the ‘spectacular’ homes-led redevelopment of one of Edinburgh city centre’s largest potential development sites following planning approval by The City of Edinburgh Council (CEC). Councillors at CEC’s Development Sub Committee on Wednesday (13 March) were ‘minded to grant’ consent for 256 low-carbon homes and commercial space at 525 Ferry Road.
Artisan’s Section 75 Education contribution was voted through in line with the planning officers’ recommendation.
Regeneration specialist Artisan Real Estate, together with fund manager REInvest Asset Management S.A., will now take forward their ambitious plans to redevelop the former Deutsche Bank House at 525 Ferry Road, Edinburgh, near the Crewe Toll roundabout.
The developers are set to transform the vacant site, to be known as ‘525 Park View’, into a new residential neighbourhood providing 256 sustainable homes, 25% of which will be for affordable housing. Flexible commercial space facing on to Ferry Road will provide potential for cafes, shops and shared workspaces.
Designed by Edinburgh-based 7N Architects, the proposals will dramatically raise the bar for sustainable city-centre living. More than two thirds of the development area will be made up of high-quality green spaces – including a large central communal garden as well as biodiverse green roofs and a ‘wetland’ area which enhances local ecology whilst contributing to the wider sustainable urban drainage system.
Smart technology such as individual air source heat pumps for each home also means no fossil fuels will be used, underlining the Artisan’s commitment to sustainable low carbon development and delivering low energy costs for occupiers.
The planning approval follows a comprehensive 14-month consultation programme, with the developers working closely with local community and wider city interests to ensure maximum benefit for both the local area and Edinburgh as a whole.
Welcoming the 525 Park View planning approval, Artisan Real Estate’s ’s Regional Director for Scotland, David Westwater, said: “This is a hugely exciting opportunity to breathe new life into an underused site, whilst ensuring its long-term future by bringing a new sustainable community to an accessible city centre location.
“Following the consultation feedback, we have worked hard to make this development not just the right fit for the site but also an integral part of the wider city centre area. We have reduced the heights of the building from nine to seven storeys and ensured the overall architectural design and materials respect local and historical contexts.”
He added: “We are also fully aware that we have the responsibility to ensure that our developments exceed all current environmental standards, setting new benchmarks for smart, sustainable living whilst providing a high quality of internal and external space.
“Our proposals have been guided by low-carbon design and encompass a mix of apartment sizes and layouts, led mainly by residential as well as much-needed affordable housing and other complementary commercial uses.”
Artisan Real Estate has a strong track record in delivering complex residential and mixed-use regeneration projects in sensitive city centre environments across the UK, and in 2023 won the inaugural ‘Excellence in Sustainability’ award at the 2023 Scottish Homes Awards.
Development partner REInvest Asset Management S.A. was founded in Luxembourg as a specialist for future-facing investment ideas and currently manages and develops properties across Europe with a value in excess of EUR 2.3 billion.
525 Park View is held in a progressive property fund within a pan-European portfolio managed on behalf of a German insurance group.
Thomas Merkes, Head of Asset Management at REInvest Asset Management S.A. added: “Our joint venture partnership with Artisan represents a major step forward in providing an innovative and collaborative mixed-use development solution to unlock the potential for this significant city centre site, which is set to create a genuinely transformational development in an accessible city centre location.
“The planning approval for this complex site demonstrates how we can make a positive contribution to the local area, bringing investment, life and excitement back to this important part of the city.”
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