S Harrison builds a £150m development pipeline in Edinburgh with latest site acquisitions

S Harrison has acquired a vacant site on Gorgie Road, which previously housed several industrial units that were recently demolished. The company has also bought a former retail and office unit, with adjoining land, close to Murrayfield Stadium on Westfield Road.

Each site covers just under one acre and S Harrison is due to start preparing planning applications for both.

In addition to these acquisitions, S Harrison is currently transforming Buchan House on St Andrew Square in Edinburgh’s New Town into a 72-bedroom Malmaison hotel with bar and brasserie. 

The company is also exploring opportunities for a 0.6 hectare site on Ocean Drive in Leith, known as Ocean Point 2, as well as pursuing planning approval to transform a 1970s office building in the West Coates area, into a new hotel development.

This follows the firm completing work on Haddington Place in 2016, when it transformed the Leith Walk site, which was formerly part of the city’s original Botanic Gardens, into a £23 million, 240-bedroom student accommodation scheme, with retail units on the ground floor. 

The gross development value of the five current schemes will be approximately £150 million and research from the Edinburgh office of planning and development consultancy Turley, reveals all these projects, combined with Haddington Place, will result in an £88 million investment in the city’s construction sector.

In addition, 750 jobs will be directly supported through this construction investment and 635 jobs will be indirectly generated across Scotland through related investment.

A significant six-figure contribution is also being made by S Harrison towards local tram construction.

S Harrison’s chairman, Martyn Harrison, said: “Edinburgh has become a significant location for us due to the level of confidence that surrounds its property market, as well as the city’s overall ambition.

“The city is widely recognised as the UK’s most popular tourist destination outside London, as well as attracting business travellers from across the world, so there’s no shortage of demand from leading hotel operators for high quality developments.

“It’s also one of the UK’s top locations to study and discerning students expect high quality, well-furnished rooms with exceptional communal facilities in well-located developments. As a result, the market is extremely active and there has been little new stock coming into the market in recent years, so this is another major opportunity.”

Mr Harrison continued: “This all combines to make it a really exciting time for Edinburgh’s property market and we’re keen to contribute, by creating high quality developments that enhance local communities and provide much sought-after facilities. We’re now preparing to submit several planning applications in the coming months. Crucially, we’re also interested in exploring further development opportunities both in Edinburgh and across Scotland’s central belt.”