Builder MNM plans £11m Edinburgh housing project

Property firm MNM Developments has unveiled plans for an £11 million residential scheme in the heart of Edinburgh.

An artist's impression of MNM's project near Meadowbank Stadium. Picture: Contributed

The project, on Marionville Road, near Meadowbank Stadium, is scheduled for completion in early 2017 and is being supported by a £7.7m funding package from Bank of Scotland.

MNM said it had identified increased demand for larger, more modern investment properties in the capital, and from second-time buyers looking for more space.

The venture will also create 50 job opportunities for the area, with the company opting to use local subcontractors exclusively and bring its engineering function in house.

To support with the build, the business has invested in new equipment, including a crane, funded by an £120,000 asset finance facility from Bank of Scotland.

Each of the 51 apartments will have a steel frame, solid concrete floor and triple glazed windows. The development will also feature a basement car park.

Marc Teague, director at MNM Developments, said: “It been an exciting year for us so far and we’re looking forward to providing a great selection of modern, high quality homes so close to the city centre.

“Meadowbank is a fantastic place for families and those looking to invest in property and we hope that the project will help support the area’s bright economic outlook.”

Graham Dunlop, relationship director at Bank of Scotland, added: “This is the fourth project we have supported Marc and his team with and we’re confident it will be another major success.

“Residential property is an important sector for Bank of Scotland and we’re committed to providing tailored support to meet the individual growth strategies of our customers in the industry.”