Ryden - General Development - Edinburgh, Quatermile

Date: 18 Jun 2008

Ryden, acting on behalf of NHS Lothian, is pleased to confirm the sale of a 0.85 acre (0.344 hectare) site at 22-38 Chalmers Street, off Lauriston Place, Edinburgh to UNITE for £8.5 million.

The site, originally connected to the old Royal Infirmary, is situated at the new Quartermile project by Gladedale, which is near to The University of Edinburgh. Until recently the site operated as an open car park.

UNITE has obtained planning consent for 81 flats, which will provide 249-student beds. The accommodation will also be let to tourists during the summer holiday period. Construction is expected to commence shortly.

NHS Lothian will be reinvesting the proceeds from the sale in healthcare provision.

Roy Durie, Public Sector Partner of Ryden, confirmed that this sale underlined the strong demand for prime development sites within the central area of Edinburgh and that over 20 offers were received at the closing date.

UNITE was advised by DTZ.

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