Regeneration experts pledge new neighbourhood in capital city

Investors looking for the next hot location will keep an eye on a new residential neighbourhood promised by a real estate firm regenerating part of central Edinburgh.

Artisan Real Estate is leasing on a homes-led redevelopment of one of Edinburgh city centre’s largest potential development sites following planning approval by the city council.

Regeneration specialist Artisan, together with fund manager REInvest Asset Management S.A., will now take forward a plan to redevelop the former Deutsche Bank House. The vacant site, to be known as ‘525 Park View’, will be a residential neighbourhood providing 256 sustainable homes, 25% of which will be for affordable housing. 

Flexible commercial space will provide potential for cafes, shops and shared workspaces.

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. 

The planning approval follows a 14-month consultation programme, and Artisan Real Estate’s Regional Director for Scotland, David Westwater, says: “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.

“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 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.