Edinburgh builders down tools
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August 21 2008The future of thousands of new homes across Edinburgh lies in doubt as construction activity in the city slows markedly.
As builders and buyers struggle to secure finance developers are being forced to put plans on hold, even with valuable planning permissions secured. Infrastructure inadequacies are also being cited.
Craig Wallace, an associate director of planning and development at Jones Lang LaSalle said the number of developers stalling on projects with planning permission highlighted the plight of the industry.
"If they go back to planning they will be faced with a whole lot of new legislation. Planning is timely and costly and involves a lot of money being spent on design and public consultation, so it is no easy decision to ignore a consent."
Several high profile schemes have hit the buffers in recent months including:
• 224-home Granton Waterfront development by Taylor Wimpey
• 171-home former Tartan Club development, Fountainbridge by Buredi
• 100-home Ocean Drive development at Albert Dock, Leith by CALA
• 75-home Pitsligo Road development, Morningside by Telereal Services
• 73-home Madelvic car factory development at Granton Park Avenue by Buredi
• Haymarket Green, Torpichen Street by Bennetts Associates for Duddingston House
• The Modernist, redevelopment of Osborne House by Broadway Malyan
• Rosebery House, Haymarket Terrace
Many speculators had drawn up plans for sites in the hope of selling on to a developer at a keen price, adding to a string of empty plots along the waterfront and city centre.
Back to August 2008
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