Edinburgh: Granton Waterfront
Key Sectors: Creative Industries, Commercial/office, Renewable energy, Retail & leisure, Tourism and hospitality, Urban Residential
OVERVIEW
Granton Waterfront: A new vibrant, sustainable coastal town for Edinburgh and Scotland. The City of Edinburgh Council’s vision is to regenerate Granton Waterfront into an internationally renowned coastal neighbourhood that showcases an ambitious approach to low carbon living in an environment that is climate-resilient, inclusive, well connected and supports prosperity and wellbeing locally and across the city region.
© Collective Architecture and Luxigon
DESCRIPTION
© Collective Architecture and Luxigon
Granton Waterfront is a 150-hectare site on the Firth of Forth in the northwest of Edinburgh, Scotland. Just three miles north of Edinburgh’s City Centre, Granton Waterfront has a rich industrial history and maritime heritage. With outstanding views across the Firth of Forth, Granton Waterfront sits in a ‘necklace’ of coastal communities from Cramond in the West to Portobello in the East.
City of Edinburgh Council owns approximately 50 hectares of development land in Granton making it one of Scotland’s largest brownfield sites and one of its most dramatic urban coastal green spaces. It presents an opportunity to spearhead the city’s response to the climate emergency, with an ambitious vision that can truly change the way people go about their daily lives.
A Development Framework has been agreed which sets out the vision, strategy, and high-level design principles for the regeneration of the Granton Waterfront. Learning from post-industrial waterfronts from around the world, it promotes innovation and entrepreneurship, bringing together new homes, commercial opportunities, cultural activity, leisure, and creative inspiration all within a 20-minute neighbourhood.
Through an initial injection of over £120m of public sector funding, a programme of early action projects have been initiated, which will be delivered over the next five years: the delivery of around 700 net zero carbon homes, the refurbishment of the former Granton Gasworks railway station (“Granton Station”) and a disused former warehouse (“West Shore Studios”) as creative enterprise hubs, the illumination and subsequent restoration of the Grade B Gas Holder into high-quality public realm.
VISION
Over the next 10 – 15 years, the vision for the site is to deliver through phased development, around 3,500 new net-zero carbon homes (approximately 50% of these to be private sector-led), a low carbon heat network solution, high-quality placemaking, business start-up space and commercial opportunity, creative arts, cultural and leisure space, key services including a school and health centre and a large coastal park.
National Galleries of Scotland (NGS) and National Museums Scotland (NMS) are two key public sector partners in the Granton Waterfront regeneration with both having plans to create new and expand existing facilities over the delivery period. These facilities will house the nation’s collections of art and culturally significant artefacts whilst welcoming both international and local visitors and researchers.
The City of Edinburgh Council will shortly be inviting parties to bid to become the Council’s ‘Development Partner’ in the delivery of this major regeneration project at Granton Waterfront, Edinburgh. This will focus on Phase 1 of the Development as a single development package which may consist of:
- Design and construction of around 788 new net zero carbon homes of mixed tenure, with approximately 50% of these to be private sector tenure;
- Development opportunity of approximately 3,000 m2 of ground floor commercial space;
- Design and construction of a heat network solution which aligns to Council objectives of low carbon and fuel poverty reduction, to support phase 1 and future phases of development;
- Design and construction of public realm and transport related infrastructure;
- Design and development of around 4,000m of new or enhanced active travel networks; and
- Design and construction of a school and medical centre.
OVERALL INVESTMENT REQUIRED
To deliver its ambitions – with an overall gross development value (GDV) estimated at over £1.3bn – the City of Edinburgh Council intends to seek a development partner to work with to develop a first phase of regeneration. While the Council will initially appoint a Development Partner for phase one, it is anticipated that the appointment could be extended to further phases of the Granton Waterfront regeneration.
CURRENT INVESTMENT OPPORTUNITY
Two major development opportunities in Edinburgh’s Granton Waterfront have recently come to market, comprising a total of 13 plots with potential for 800+ homes.
A portfolio of 10 coastal development plots totalling approximately 7.3 hectares (18 acres) in the Granton Waterfront of Edinburgh is available to purchase.
Forming part of the wider Granton Harbour development, the plots hold planning permission for a major residential development, with potential for around 500 homes. The selling agent for the portfolio is CBRE.
“At a time when the lack of housing supply in Edinburgh has never been more pronounced, this opportunity offers an oven-ready residential development scheme of significant scale. With planning consent secured and infrastructure already in place we anticipate strong demand from the developer community.”
Chris Dougray, Executive Director, CBRE Scotland
Further information on the opportunities can be obtained from Suzanne Amir and Keff Afzal.
The announcement follows shortly after a further three plots at Granton Harbour totalling 1.6 hectares (3.9 acres) were brought to market by Scarlett Land and Development and Reith Lambert. These plots have previously secured planning permission for the delivery of 325 homes along with 3,000 square metres (32,300 square feet) of commercial space.
“Large-scale prime residential sites such as this are a rarity in Edinburgh; these sites are ideally placed, with an excellent range of amenities and well-connected transport links on offer”.
Drew Lambert, Reith Lambert
Granton Harbour forms part of the wider Granton Waterfront regeneration, which is delivering thousands of new homes along with commercial and cultural space, a primary school, a health centre, and a major new coastal park.
Granton Waterfront regeneration – The City of Edinburgh Council
QUICK FACTS
Location: Edinburgh, Scotland
Promoters: The City of Edinburgh Council
Investment Type: Development Partner
Planning Status: Non statutory development framework
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