For sale: One of most valuable plots of land in Scotland
Jim Lowrie, pictured right, admits there is opposition to selling green belt land
A MAJOR bidding war is expected to be triggered with the sale of a huge swathe of green belt land near Edinburgh Airport.
About 365 acres are being sold off by a family-owned farming business to the south of the A8, on either side of the main Edinburgh-Glasgow railway line.
It will be marketed as “one of the best strategic sites in Scotland” when it goes on to the open market next week, because of its proximity to a new international business quarter, RBS’s headquarters, the airport and the Royal Highland Showground.
Huge interest is expected from investment giants, property developers, potential new owners of the airport and the organisers of the Royal Highland Show. It is also expected to become one of the key battlegrounds over arguments about how much of the green belt should be released for development in Edinburgh over the next few years.
Property agents handling the sale say it is hugely significant because it is the biggest single chunk of land in the area – hailed as one of the nation’s key development zones by Scottish Enterprise – to come on the market. A price tag has not been set by the Allison Trustees, which is selling the land.
However, it is uncertain what City of Edinburgh Council – which has unveiled plans to allow 4,500 homes to be built on green belt land across the city – will allow to be built on the land, which is near both Ratho and Newbridge, after it is sold off.
Although the local authority is under pressure from the government to release land for future housing, the area up for sale does not include any of the four preferred green belt zones in west Edinburgh which were identified for homes by the council last year.
Many councillors and community groups are opposed to the release of large swathes of the green belt because of the amount of undeveloped land on brownfield sites in areas such as Edinburgh’s waterfront, which have been badly affected by the slump in land values and the property market collapse four years ago.
However the green belt land – which is divided into three distinct sites – is still expected to be of interest to potential investors. The “Edinburgh International” area, as it has been branded, is planned to include an indoor concert arena, hotels and a business district. A new stadium for Heart of Midlothian Football Club has also been touted.
The sale of the land – to the east of Gogarburn Golf Club – has been revealed just months after council leaders signalled they were prepared to allow up to 2,400 new homes to be built on green belt land in west Edinburgh. Part of the land being put up for grabs was previously earmarked as a new home for the Royal Highland Show, when it was pressured to move by airport owner BAA.
However, BAA later put back a major expansion in the wake of the global economic downturn and the massive costs it was facing to help pay to relocate the showground.
Around 3,600 jobs are expected to be created at the Edinburgh International site, with official predictions that it could inject £4.4 billion into the economy over 18 years.
The land south of the A8 is not designated as part of the “international business gateway” hub, which is likely to be built immediately to the east of the showground, and is expected to be of huge appeal to housebuilders. However, the council is unlikely to allow more than 500 homes to be built there.
Jason Hogg, head of development land at selling agent Jones Lang Lasalle, said: “Given the area’s strategic importance to the council’s development plans for Edinburgh, this site offers fantastic medium- to long-term planning potential.
“It already contains a zoning in the local plan for the relocation of the showground and, following the council’s recent change of direction in its housing strategy, there is a great opportunity to promote further residential development in this area.
“We’ve received a number of notes of interest before the site has even gone on to the market, but we’ll be using all our international connections to ensure the site is marketed far and wide.”
Mr Hogg said the local authority was still consulting on its green belt plans.
“Nothing is set in stone, but the fact is developers are crying out for land for good family housing in this part of the city. That figure released by the council last year could well be the stating point,” he added. “Nothing of this scale has come on to the open market in west Edinburgh, that I can recall, and we expect there will be huge interest.”
Jim Lowrie, Edinburgh council’s planning leader, said: “We have said previously that we don’t want all of these new homes built on big sites, so that’s why we’re consulting on plans for four different sites in this area.”
The Cockburn Association, Edinburgh’s main heritage watchdog, is one of the main opponents to the council’s plans to release green belt land for housing. Director Marion Williams said: “We strongly oppose the sacrifice of agricultural land in the west of Edinburgh for continued urban sprawl. It is clear to all that the city is littered with large undeveloped brownfield sites.”
Email to a friend
Print this page- Alan Pattullo: Dignity, not sanctimony, is required at Parkhead
- 300 jobs at risk as Ryanair axes five Edinburgh routes
- Suzanne Pilley trial: I kissed her goodbye then never saw her again, says would-be lover
- Rangers administration: Craig Whyte’s promise to step aside and hand Rangers over to fans ‘ludicrous’
- David Cameron is playing into the SNP’s hands, says Michael Forsyth
- Scottish independence: Spectre of border controls raised by top Tory
- David Cameron is playing into the SNP’s hands, says Michael Forsyth
- Scottish independence: Alex Salmond hits back at Tory ‘Bourbons’ in battle over devo-max
- Scottish independence: Let Scotland vote on independence in 19 months, says Michael Moore
- Scottish independence: Anti-Scottish jibes boost separation, Michael Gove warns Right
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Edinburgh
Thursday 23 February 2012
Today
Light rain
Temperature: 7 C to 14 C
Wind Speed: 26 mph
Wind direction: South west
Tomorrow
Sunny spells
Temperature: 5 C to 10 C
Wind Speed: 29 mph
Wind direction: West
Comments
There are 7 comments to this article
Page 1 of 1
craighouse7
Monday, January 30, 2012 at 01:46 PMIs there anything that the Cockburn Association ever supports? They are back in the Dark Ages.
Ron Greer
Saturday, January 28, 2012 at 10:38 AMWe have to follow the money trail here. There is a huge opportunity to make megabucks on the change from agricultural land to building land and the massive increase in Land Rental Value( LRV) caused by societal demand that this brings about. On the positive side it will show the vast potential of switching from the state theft of labour( tax) as the basis of public revenue, by removing the private theft of societally created LRV by a 100% collection of that LRV.
samcoldstream
Saturday, January 28, 2012 at 10:17 AMIt is not the case that the last Scottish Executive drew up future plans for an M8 spur to Edinburgh Airport and this may have something to do with the intense interest in the land.
Tarheel Scot
Saturday, January 28, 2012 at 09:52 AMWill it be accessible from the Edinburgh Tram Line?
Ron Greer
Saturday, January 28, 2012 at 09:33 AM1 You are correct about the landowner being glad about as he-she or they will be getting a massive increase in land value for doing absolutely nothing unless they are only being paid the agricultural value and not the new societally created.value.
Navvy
Saturday, January 28, 2012 at 09:02 AMSo what is the point of a green belt if the council can just decide to build on it? Building houses near airports is silly. The owners of houses built near Heathrow but after it became London,s airport complain of noise and ask for compensation and often get it - government is plain daft.
McNasty
Saturday, January 28, 2012 at 08:02 AMThis land will need well drained as it looks more like a flood-plain than green belt land. The farmer is probably glad to be rid of it.
Page 1 of 1
Your view
Please sign in to be able to comment on this story.