Double deal success in Edinburgh for Scarlett as it ends first year on a high
Scarlett Land and Development Ltd (SLD) have acquired two adjoining sites in central Edinburgh on London Road for private client Summix Capital Limited. These acquisitions end a successful first years’ trading for Scarlett Land and Development, which amounted to a total of c. £78m in deal value.
The sites were under separate ownerships with a combined area of approx. 0.75 acres. 61 London Road was marketed by Colliers International, whilst 63 London Road was acquired off-market from a private client.
Summix is now reviewing options for student housing or residential planning consent on the combined sites. Located directly opposite Meadowbank Stadium, the sites represent a strategic purchase in an area only 1.5 miles from Edinburgh City centre and due for major regeneration with the imminent redevelopment of Meadowbank Stadium by City of Edinburgh Council.
Stuart Black of Summix commented: “Scarlett Land and Development provide an exceptional level of client service and market insight enabling us to acquire the adjoining sites.”
Will Scarlett commented: “Summix have been highly strategic in the acquisition of two adjoining sites in such a strongly emerging part of Edinburgh; their ability to move quickly and decisively has been a key factor in this positive outcome.”
These acquisitions end an active first years’ trading for Scarlett Land and Development whose focus is on brokerage of land, development and investment deals across Scotland with a bias to towards residential and student housing. SLD work collaboratively with an experienced network of property professionals to provide a full development consultancy service.
In the 13 months since the company was formed, SLD have bought or sold 26 sites, with 12 deals in contract; combined, these total c. £78m in deal value.
A further 10 sites are in the process of being marketed at www.scarlettdev.co.uk