Build-to-rent platform plans 338-home development in Leith

A build-to-rent (BTR) platform set up by Macquarie Asset Management has acquired its first site in Scotland to deliver 338 homes for rent.Goodstone Living, which has been established with British real estate industry veterans Darryl Flay and Martin Bellinger, has earmarked the 2.5-acre Ocean Drive site in Leith for four mid-rise buildings of between 10 and 14 storeys. The development will be boosted by Edinburgh’s tramline extension to Ocean Terminal – scheduled for completion in 2023. The extension will run directly past the development and enable a 10-minute commute into Edinburgh’s financial district, which is already within walking distance.Goodstone Living plans to transform the vacant site into a thriving rental community with over 16,000 sq. ft. of amenity space including a gym, coworking space, a 24-hour on-site management team and communal rooftops to provide both waterfront and skyline views across Edinburgh.The site already has planning consent and Goodstone plans to commence construction this summer.Underpinning Goodstone’s ESG commitments, the waterside development will target a 50% reduction in carbon compared to current building regulations with 25% of the site given over to affordable housing.Each of the four buildings will go above and beyond building regulations to include two stairwells – maximising fire safetyGoodstone was advised by JLL and Eversheds Sutherland LLP on the transaction.