Double deal success in Edinburgh for Scarlett

Published: 03 December 2018

Two central Edinburgh sites have been bought for development by property business Scarlett Land and Development. We spoke to founder and director Will Scarlett.

Your business in brief?

Scarlett Land and Development is a niche property business based in Edinburgh.  I founded the company in September 2017. With nearly 20 years’ experience in the market, we offer independent consultancy advice in relation to the acquisition and sale of land and development assets across Scotland.

Edinburgh continues to perform strongly across all sectors, including those in which we are most active – residential and student housing...we are seeing no hesitation from UK Institutional funds, whose appetite for build-to-rent and student housing investments is unprecedented.

Will Scarlett, founder and director, Scarlett Land and Development

 

We have a bias towards the residential development and student housing markets with a reputation for sourcing high quality, off-market transactions and offering well informed advice on new and existing situations.

Our clients include UK funds, PLC house builders, small developers, large institutions, charities and private family wealth. We work collaboratively with an experienced and trusted network of property professionals – including architects, planners and cost consultants – to provide a full development consultancy service.

The acquisitions of two adjoining sites in central Edinburgh end a successful first years’ trading for Scarlett Land and Development, amounting to a total of £78m in deal value.

What are these acquisitions and why are they important?

The adjoining sites at London Road were acquired by us for Summix Capital – investors in the development of strategic land and student accommodation assets. 

The sites were under separate ownership, with 61 London Road being sold on market and 63 London Road being acquired off-market. They are located directly opposite Meadowbank Stadium, which is due for major regeneration by the City of Edinburgh Council.

It is a highly strategic purchase being a mere 1.5 miles from Edinburgh city centre. Options for student housing or residential planning consent over both sites are now being considered subject to planning.

What is your sector like in Edinburgh? What kind of opportunities / potential is there?

Edinburgh continues to perform strongly across all sectors, including those in which we are most active – residential and student housing.

Despite Brexit and a potential IndRef2 we are seeing no hesitation from UK Institutional funds, whose appetite for build-to-rent and student housing investments is unprecedented.

Scarlett Land and Development focus is on brokerage of land, development and investment deals across Scotland with a bias to towards residential and student housing.

The demographics in Edinburgh are compelling and the supply is constrained.

What's the vision for your business?

Having completed our first year ahead of expectations (£78m bought or sold in 14 months) we remain cautiously optimistic about the market in 2019 and are working on a number of potential growth scenarios.

However, until we see the direction of travel on the political scene and the effect on the market we will keep our powder dry.

 

If you would like to find out more about how we can help you and your business establish, relocate or expand within the city region, or would simply like more information about what Edinburgh has to offer, get in touch today.

E: invest@edinburgh.gov.uk

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E: invest@edinburgh.gov.uk

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