GSS Developments pay an undisclosed sum for 61.5-acre former Continental Tyres Factory near Edinburgh.

The brownfield site has been abandoned since 1999 and could be a residential and/or commercial development one mile from Edinburgh Airport.

Commenting on the purchase, which was assisted by corporate law firm Dickson Minto, Paul Stevenson of GSS Developments said: “This well-known site sits within easy reach of Edinburgh Airport and is well connected to the roads network especially the M8, M9 and M90. We are pleased to be playing a part in its next chapter and are currently exploring options as to how best to maximise its potential.”

David Fraser, partner, residential investment & development at Ryden, added: “Ryden are delighted to have provided advice to GSS Developments on the acquisition of this prime development site. The site has the benefit of a key strategic location within East Central Scotland and presents a range of options for GSS to deliver a high-quality development.