The Scottish National Investment Bank (“the Bank”) has committed £19.5m to support the development of 370 single-family build-to-rent homes in Edinburgh.
The development, located near Edinburgh’s Bio Quarter and Little France Park, will comprise 241 private rental homes and 129 affordable homes.
The Bank has partnered with Hunter REIM (“Hunter”) and Ediston Real Estate (“Ediston”) on the development, with the site located on the former Edmondstone Estate.
The homes will be constructed using advanced timber methods, delivering high levels of energy efficiency and sustainability. Residents will also benefit from a new community heat network, providing low-carbon heating and hot water.
The development forms part of a new neighbourhood that will feature extensive green space and active travel routes, including 3km of walking and cycling routes connecting residents to communities across south-east Edinburgh and key employment locations including Edinburgh Royal Infirmary and the Bio Quarter.
The site is shovel-ready, with construction expected to commence by the end of this year and the first new homes scheduled for completion from early 2028.
As an impact investor, the Bank’s investments are focused on securing long-term, commercial returns as well as delivering social impact for Scotland. The investment in the Little France development aligns with its mission to invest in places to create thriving communities and address Scotland’s housing shortage. It also aligns with its mission to support the transition towards a net-zero economy.
Andy Mallin, Investment Director at the Bank, said: “Quality rental homes are key to supporting workforce mobility, so this development – near Edinburgh’s Bio Quarter and major employers – is extremely well-placed.
“Scotland’s housing challenges require urgent and meaningful intervention. This investment is an important step in increasing the supply of high-quality, sustainable homes, supporting economic growth and building stronger communities for the future.
“This is the first joint venture formed by the Bank. We are pleased to partner with Hunter REIM and Ediston, helping attract much-needed capital to Scotland.”
Andrew Moffat, Managing Director at Hunter, said: “Little France is an important development for the city, providing a mix of private and affordable homes in a location close to the Bio Quarter, Edinburgh Royal Infirmary and other major employment centres.
“We are particularly pleased that the development combines high-quality design and sustainability with a long-term rental model, creating a new neighbourhood that will provide high-quality homes for residents for many years to come.”
Danny O’Neil, CEO at Ediston, said: “Hunter and Ediston are working with the Scottish National Investment Bank and our other partners to deliver much-needed, high-quality rental housing in Edinburgh. The project is one of a number that our Living Platform will deliver and manage in Scotland and which has a pipeline of over 2,000 homes.”