The former headquarters of the British Army in Scotland has been sold to Miller Developments and the William Pears Group, both advised by Savills. The William Pears Group is acquiring the 78 former MOD houses for refurbishment, while Miller Developments is acquiring the balance of the c. 39-ha site for future redevelopment.
The site is located on the northwest fringe of Edinburgh, adjacent to the established prime residential areas of Cammo, Cramond and Dalmeny. It was marketed by Montagu Evans on behalf of the Defence Infrastructure Organisation and attracted several bids at a closing date. It includes a number of listed buildings, including the Category A-listed Craigiehall House (along with its Walled Garden and Stable Block) and the Category B-listed former Anti-Aircraft Operations Room.
Ben Brough, Head of the Savills Development Team in Scotland said: “We are delighted our joint bid from Miller Developments and William Pears Group has led to a successful acquisition. The combination of this attractive and historical property, and its exceptional setting on the banks of the River Almond, makes it a very special opportunity indeed. Nearby existing residential enclaves are in high demand from those who wish to be in easy reach of the city centre, yet close to the airport and to Scotland’s rail and motorway network, including the new Queensferry Crossing across the Firth of Forth.”
The William Pears Group are a financing and real estate group, that operates a strategic approach and are committed to long-term investment which adds value. The Group was successful in its bid for the 78 existing homes at Craigiehall.
David Milloy, Managing Director of Miller Developments said: “Opportunities of this quality do not come along very often. We are therefore very pleased to have been successful in buying the barrack site with a view to securing consent for future development within this high-quality site.”
Planning and development consultancy Montagu Evans advised the DIO on this disposal in its role as Strategic Property Adviser to the defence organisation. It is also appointed to the DIO’s Estate Management Professional Services (EMPS) contract, delivering major defence estate requirements in a sole appointment under the Crown Commercial Services Framework Agreement.
Adrian Owen, Partner at Montagu Evans, said: "This disposal forms part of a wider strategy for releasing surplus defence estate assets to maximise value for the public purse and ensure a strong focus on social value. The site is very well-located for new development, and we are pleased to have secured an agreement for its future economic use following a strong bidding process."
Image source - Pexels.
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