MILLER DEVELOPMENTS HITS ACQUISITION TRAIL WITH EDINBURGH SITE

Date: 17 October 2022

Land and property group deploying capital after recent run of sales

Omega 400 at Omega Business Park

What: Miller Developments has bought an 18 acre site near Edinburgh

Why: Plot has potential for industrial and residential development

What next: M2 Group, Miller Development’s owner, has significant firepower for future opportunities

Miller Developments, the leading land and property group, has bought a major development site near Edinburgh.

M2 Group, the owner of Miller Developments, has completed the purchase of an 18 acre plot on the northern side of Turnhouse Road, West Craigs.

The site, previously known as Airwest, has legacy planning consent for industrial uses, although Miller Developments will explore various potential options incuding residential.

“Our purchase of this brownfield site fits well with our strategy to acquire land on an unconditional basis that offers redevelopment potential in the medium term”

DAVID MILLOY, MILLER DEVELOPMENTS

Formerly part of an RAF facility decommissioned in 1995, the site has been cleared of all former buildings.  It was sold by a private investor.

David Milloy, managing director, Miller Developments, said: “Our purchase of this brownfield site fits well with our strategy to acquire land on an unconditional basis that offers redevelopment potential in the medium term.  We expect to submit a planning application to Edinburgh City Council by mid-2023.”

Calum Cowe, director, JLL, who advised Miller Developments on the acquisition, said: “We’re pleased to have advised on the purchase of a site that has got significant, long-term development potential.  With a lack of viable development sites for residential and logistics uses around Edinburgh, I’m looking forward to seeing what Miller Developments team delivers in the future.”

“We’re pleased to have advised on the purchase of a site that has got significant, long-term development potential.”

CALUM COWE, JLL

Following a recent spate of high-profile sales, Miller Developments has significant dry powder to deploy into future development opportunities.

The group sold two plots in the North West and Scotland to Bellway Homes, before following that up with two logistics funding deals totalling over £140m at Warrington’s Omega Business Park.

David Milloy added:  “We are keen to acquire other sites such as this, as we have a considerable amount of cash to redeploy.”

Fortus advised the vendor.

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© 2023 M2 Group Ltd, Registered in Scotland, SC601917

© 2023 M2 Group Ltd
Registered in Scotland
SC601917