A joint venture between developer Chancerygate and investor Bridges Fund Management has submitted plans to turn a former office building into a £30m GDV urban logistics facility in Sighthill, Edinburgh.
The speculative development, on a 7.5-acre site located at Bankhead Avenue, will provide 146,745 sq ft of grade-A logistics floorspace.
Capital Park will comprise 18 leasehold units measuring up to 17,000 sq ft. A 15,000 sq ft unit is already under offer to a national builders’ merchant, which was not named.
The logistics scheme would replace Grayfield House, a 90,000 sq ft office building that is being demolished.
Neighbouring occupiers to the proposed development include Evans Halshaw, Tool Station, Edinburgh College, Edinburgh Napier University and Burton Biscuit Company.
Mike Walker, development director at Chancerygate, said: “Submitting a planning application for this site is another key milestone in bringing forward this development.
“We are very encouraged by the high interest we have received from potential occupiers to date. Once delivered, we believe Capital Park will be a best-in-class trade counter and multi-unit urban logistics development perfectly placed for Edinburgh’s increasingly active and dynamic SME sector.”
Guy Bowden, partner at Bridges, said: “The rise in e-commerce is driving strong demand for urban and last-mile logistics sites.”
Galbraith & Co and Ryden are the joint agents on the scheme.
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