09 December 2013
Queensberry and Telereal Trillium have joined forces to develop 81 contemporary new homes in one of Edinburgh’s most prestigious residential suburbs.
Situated in Morningside, Woodcroft is a 4.9 acre site that is set to provide a collection of 24, three-storey, four-bedroom townhouses and 57 two and three-bedroom apartments.
The venture to develop the site combines the strengths of Queensberry, a partnership between Cruden and Buccleuch Property, and Telereal Trillium who own the site and obtained detailed planning consent for the development.
Nick Waugh, director of Buccleuch Property, said: “Woodcroft is a landmark new development for Edinburgh which will allow us to further our ambition to create well-located, high quality, sustainable buildings that are sensitive to, and in keeping with, the local environment. We believe it will quickly become the Capital’s most exciting new residential development with boundary pushing design, specification and living quality.”
Nigel Reid, property development manager at Telereal Trillium said: “We are delighted to be working with Queensberry on this exciting development. This is our first residential joint venture and enables us to add further value to the asset by working with a quality house builder in an improving local market.”
Total sales value for the development is in the region of £50m, with prices likely to be in the region of £800,000 to £1.2m for the townhouses and from £400,000 for the apartments.
Phase one of construction is planned for early 2014, with the first completions towards the end of 2014.