Joint venture acquires Edinburgh packaging factory site to create residential-led masterplan

Plans to create a residential-led development that will transform a 15.5-acre factory site in Edinburgh with new homes, community amenities and access to a new transport hub have moved forward with the acquisition of the plot of land.Mixed-use developer Osborne+Co and build-to-rent developer and operator Moda Living have together acquired the Saica factory site located at Edinburgh Gateway rail and tram interchange and will, subject to planning, look to transform the area into a new urban quarter that aligns with the Edinburgh City Plan 2030.The developers said the masterplan will deliver a vibrant range of new homes across a mix of tenures – including a substantial affordable housing provision – workspaces and community amenities, as well as a sustainable neighbourhood public realm and access to a new transport hub.The residential masterplan has the potential to accommodate in excess of 1,000 homes across the tenure and pricing spectrum, aiming to include a mix of studio, one- two- and three-bedroom apartments alongside townhouses.The neighbourhood will also boast plentiful green space and placemaking initiatives, helping to create a sense of belonging and boosting the existing surrounding community, while commercial opportunities will also be made available. Importantly, the vision aligns with City of Edinburgh Council’s City Plan 2030 to transform the west of the city into a “high-density mixed-use extension to the city with a focus on placemaking, sustainability, connectivity and biodiversity”.Pre-application discussions, as well as community engagement and consultations, will begin within the coming months, and the team aims to submit outline planning to City of Edinburgh Council within the next 12 months.The development is the third lined up by the joint venture between Moda and Osborne+Co. Outline planning has been submitted for Lancefield Quay in Glasgow for 730 units, which will breathe new life into a city centre site that has been vacant for more than seven years. Last year the JV also announced plans to develop a mixed-use campus at Belfast Waterside, transforming a key strategic city centre site with more than 600 residential units and 1m sq ft of office space.Saica will be Moda’s second major development site in Edinburgh and fourth in Scotland making it the country’s largest build-to-rent developer operator. Last month, the 500-home Moda, The McEwan, welcomed its first residents and was named Build-to-Rent Development of the Year at the Scottish Property Awards. Osborne+Co has also acquired several sites in Glasgow.As with other Moda Living developments, the new BTR neighbourhood will prioritise strong sustainability credentials, and is aiming to achieve the global ESG benchmark (GRESB), and three-star Fitwel accreditation. Last year Moda, The McEwan in Edinburgh’s Fountainbridge district became Europe’s first project to achieve the highest Fitwel rating of three stars, proving the design and operation of the neighbourhood is centred on the wellness, happiness and lifestyle of its residents. Spain-based paper and cardboard company Saica is active in ten European countries. It will shortly be moving to a new purpose-built facility in Livingston demonstrating further commitment to Scotland.