| National Grid puts Forthquarter site including Granton gasholder on the market | |
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02 Aug 2016
National Grid has put 40-acres of land in 'The Forthquarter' on the market for residential led mixed-use development. The land is an exceptional opportunity to develop much needed housing to meet unsatisfied demand in the Edinburgh market. The site - which includes the Granton gasholder - has been put up for sale in a bid to identify whether there is a potential buyer with the means and ability to both develop the site and find a creative approach to repairing the listed gasholder.
There is an opportunity for a new alternative use of the gasholder which complements the regeneration objectives of the wider area. The purchaser of the land must be able to demonstrate that they are able to repair the structure.
Benjamin Gaunt, from National Grid Property, said: 'National Grid is keen to unlock the potential of this area and bring forward much needed family housing for the city. To do that, we need to address the situation with the disused gasholder. We have asked for consent to remove the gasholder which is now redundant to National Grid's operational requirements.
'As part of its consideration of the application to remove the holder, the City of Edinburgh Council and Historic Environment Scotland have asked us to market the gasholder and surrounding site to ascertain whether there is any interest from a purchaser willing and able to develop the site and repair the gasholder. As current owners, we are obliged to ensure that any interested parties are credible buyers and are able to invest appropriately in the repair of the gasholder.'
Cushman & Wakefield marketing agent, James Thomson, said 'Edinburgh's thriving economy and resultant population growth is putting significant pressure on residential land supply. The Fourthquarter is one of the very few opportunities to acquire a significant serviced land holding in a location within a short distance of the city centre and where more affordable product can be developed.''
National Grid, which owns the Forthquarter site, has reiterated its commitment to bring forward its own plans for redevelopment of the site if a suitable purchaser does not come forward.
Benjamin Gaunt added: 'The marketing of this site offers an opportunity for a developer to come forward and play a critical role in the development of Edinburgh's waterfront. However, if following the marketing process no suitable purchaser has come forward, we will continue to play our role in regenerating the Forthquarter and will work with developers to enable the delivery of much-needed housing and apply for the demolition of the gasholder.'
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National Grid Transco
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CODE : NG.L |
ISIN : US6362743006 |
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