PLATFORM_ & Heimstaden Bostad open the only new BTR development in Edinburgh in 2024

Bonnington site brings 464 open market and affordable rental homes to the city, as regulatory uncertainty continues to limit BTR delivery in Scotland

5 November 2024 – Developer and operator PLATFORM_ has taken handover of the first phase of its flagship build-to-rent (BTR) development in Bonnington, Edinburgh. Forward-funded by Heimstaden Bostad, and delivered by contractor GRAHAM, on completion, the development will bring 464 much-needed homes to the city, including 25% intermediate market rent provision (116 homes).

The launch is a landmark for Edinburgh as the only new BTR to launch in the city this year, and for PLATFORM_, who already operate the largest BTR scheme in Scotland, comprising 498 apartments on Anderston Quay in Glasgow.

Build-to-rent offers renters an exceptional experience, with the entire building owned and managed by a professional landlord with a dedicated on-site team. In addition, BTR developments offer a wide range of additional amenities at no extra cost.

The first phase of the Edinburgh scheme has now been completed, with 365 apartments available for rent, along with a comprehensive range of exclusive amenities to enhance residents’ quality of life. These include a gym, yoga studio, co-working space, lounge, guest rooms, private dining room, screening room, spin room, outdoor landscaped areas, a kids’ soft playroom, and an outdoor play area. A new riverside walk and park have been created, and the development also contains four new commercial units, and a new access road connecting Anderson Place and Bonnington Road Lane.

Sustainability has been prioritised throughout, building on PLATFORM_’s commitment to sustainable living – Nurturing Neighbourhoods, launched earlier this year. Electric vehicle charging stations are available to all residents, mechanical heat recovery systems in every home, and solar panels for green energy generation. The development aligns closely with the City of Edinburgh Council’s ambition to become a net-zero city by 2030.

Residents will also benefit from partnerships with local businesses in Leith and Edinburgh, including Niche Studio, Razzo Pizza Napoletana, and Port of Leith Distillery, offering discounts on services.

Located on the Water of Leith, the development enjoys close proximity to the vibrant Leith Shore and excellent public transport links to the city centre, including the extended tram line. Local green spaces, including Pilrig Park, and the proximity to excellent nurseries and schools make the location perfect for families.

Demand for apartments has already been strong, with 80% of the intermediate market rent apartments in the first phase already pre-let, representing 17% of the total phase 1 apartments. The remaining 99 open market and intermediate market rent apartments are expected to launch before the end of 2024.

Jean-Marc Vandevivere, CEO at PLATFORM_, said: “PLATFORM_’s latest development in Edinburgh will enhance the vibrant Bonnington area with tech-enabled, well-priced housing that is in strong demand across the city. The high level of demand is evident, with all available 1-bed and 2-bed intermediate market rent homes now reserved.

“With close to 1,000 BTR units operational in Glasgow and Edinburgh by the end of the year, we look forward to finally getting clarity on the regulatory front from the Scottish government. This will hopefully allow us to start investing again into new projects and deliver even more much-needed rental housing across Scotland.”

Christian Birrell, Managing Director, Head of UK Investments, Heimstaden Bostad, said: “We are excited to launch the first Heimstaden Bostad-funded BTR development in Scotland, in partnership with PLATFORM_, and look forward to welcoming new residents to our Friendly Homes in the coming weeks. The development in Bonnington represents a new standard of living for the people of Edinburgh, with sustainability at its core. The introduction of 464 open market and intermediate market rent apartments to the city will add much-needed housing and ensure there are homes for all types of renters.”

Gary Holmes, regional managing director for GRAHAM’s Building North region, said: “GRAHAM is proud to partner with PLATFORM_ and Heimstaden Bostad to help more people find a high-quality home in Bonnington. Through innovative design features and extensive amenities, this project sets a new standard for modern living in Edinburgh.”

GRAHAM also delivered PLATFORM_’s BTR development in Glasgow, creating 498 apartments at Central Quay. The award-winning development completed in October 2023, becoming one of the city’s tallest buildings, at 20 storeys high.