Prime Development of 58 Luxury Apartments Launched in Edinburgh’s New Town
On behalf of Mac Mic Group and our joint venture partners (Mactaggart Family & Partners, Dundas Property Developments Ltd and Rennick) we are pleased to announce that JLL has just launched Centrum House to market, a new mixed-use development opportunity in the heart of Edinburgh, with the potential to deliver high quality luxury living in the New Town.
Located on Dundas Street, Centrum House benefits from a planning consent for the demolition of the existing office buildings and the construction of a new mixed-use development made up luxury apartments, 3 ground floor commercial units and 31 car spaces within a secure underground car park.
Initially consented for 49 units, we recently obtained detailed planning permission for a further 9 apartments, increasing the total development to 58 units.
The development sits right in the heart of Edinburgh’s New Town, a sought-after residential neighbourhood, characterised by its Georgian properties providing a range of apartments and townhouses popular amongst young professionals and families seeking urban living.
Recognised as a UNESCO World Heritage Site, the area benefits from close proximity to a range of nearby amenities including independent cafes, bars, shops and galleries. Dundas Street also enjoys strong public transport links to the city centre and neighbouring suburbs, as well as tram and train connectivity.
The launch follows the news that house prices in Edinburgh are forecasted to grow by 17% over the next five years. This is according to JLL’s recent ‘Big Six’ research, which tracks residential development activity, prices and rents across Glasgow, Edinburgh, Bristol, Birmingham, Manchester and Leeds.
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