Description: Strategic land
Size: 50 acres / 139,800 sq ft
Strategy: Complex Development
In March 2011, MoREOF acquired Edinburgh Napier University's Craighouse Campus, which sits in the prime residential area of Morningside, 1.5 miles south west of the centre of Edinburgh. The site sits on 50 acres of land with 139,800 sq ft of existing Class A listed buildings and 4 acres of hardstanding car park.
The estate was purchased from Edinburgh Napier University for £10m which represents c. £70 psf for the existing buildings (ignoring any potential future consent on the site).
MoREOF has partnered with Sundial Properties (recognised as the leading restorer of listed buildings for residential use in Edinburgh) to realise the potential of the listed buildings and grounds of this historic site.
MoREOF's business plan includes obtaining consent for conversion of the existing buildings to residential together with some new build elsewhere on the site to ensure the future and maintenance of the stunning Grade A listed buildings.