A 23 acre site situated next to Edinburgh International Airport that will deliver 384,874 sq ft of office space, 525 hotel rooms and 200 residential units has been put up for sale.
Billed as a mixed use development, Edinburgh International Business Gateway (EIBG) currently has an application for Planning Permission in Principle (PPP) pending consideration by City of Edinburgh Council. The application is due to be determined in Autumn 2016.
JLL and Savills were appointed by owners Murray Estates to sell the site in West Edinburgh which is positioned adjacent to Edinburgh International Airport.
Research by JLL into Edinburgh’s office market has shown that West Edinburgh, previously seen as a pressure release for the high demand city centre market, has fast become an occupier location of choice. Occupier take-up in west Edinburgh totalled 130,000 sq ft in 2015 with 115,000 sq ft having been transacted in Q4 alone. The increase in demand has seen a corresponding shortening of supply in the west of the capital.
The high profile 23 acre site is easily accessible from the A8, and is well connected with its own tram stop. A natural extension of the city, EIBG is one stop from Edinburgh Gateway railway station which is due to open later this year, connecting the east coast rail line with the tram network and is one stop from Edinburgh International Airport.
Supported by the Scottish Government, Scottish Enterprise and the City of Edinburgh Council, EIBG has the potential to benefit from Edinburgh’s City Deal announced at the latest Westminster budget. EIBG is part of Edinburgh’s wider strategic expansion to the west.
Cameron Stott, director at JLL in Edinburgh, commented: “Given the paucity of high profile mixed use sites for development in Edinburgh, this is a fantastic opportunity to acquire a strategically positioned, high profile site adjacent to the burgeoning Edinburgh International Airport. Located on a gateway site to both Edinburgh and the rest of the central belt, Edinburgh International Business Gateway will also provide additional hotel rooms to meet the capital’s increasing tourism demand and provide additional residential space.”
Nick Penny Head of Savills, Scotland said: “With negotiations underway regarding the City Region deal, we understand that the A8 corridor around the airport and the Edinburgh International Gateway site will form one of the key areas of focus. Given the imminent investment, this 23 acre site represents an exceptional opportunity to develop in an area where infrastructure is set to improve significantly.”
Simon Parsons from Scottish Enterprise said: “We recognise the proposed International Business Gateway represents a significant opportunity to stimulate new investment into Scotland and enhance Edinburgh’s global connectivity. The project forms part of an agreed long-term vision for West Edinburgh intended to make best economic use of its strategic location in attracting international investment and supporting continued growth and expansion at Edinburgh Airport.”
