A prime residential development site in Leith, Edinburgh, with the potential to house nearly 250 units, has been listed for sale. The site, known as The Glassworks, spans 3.46 acres and boasts a potential gross development value of up to £65 million. It has already secured planning permission, allowing for the construction of 247 residential units alongside commercial spaces.

Ryden, the firm overseeing the sale on behalf of Russell, has expressed enthusiasm about the opportunity, emphasizing the site’s readiness for development. The recent extension of the Edinburgh Trams to Leith has further enhanced the site’s appeal, providing a boost to this vibrant waterside location.

The proposed development includes the demolition of existing structures to pave the way for a mixed-use development. This will primarily cater to residential needs, with approximately 247 units planned. Additionally, commercial spaces, car parking, and landscaping are part of the design. The architectural plan comprises eight blocks, with heights ranging from three to six storeys. The site offers flexibility in terms of its potential use, suitable for either private sale or build-to-rent models. Notably, 25% of the project is designated for affordable housing, aligning with the community housing objectives of Edinburgh.

The location benefits from enhanced connectivity due to the recent tram extension. The vibrant waterside area is already a hub of activity, with a mix of bars, restaurants, hotels, and shops, making it an attractive proposition for an upscale urban lifestyle.