Ediston Real Estate has secured funding for the regeneration of a £38 million site in Edinburgh.

RBS and Ediston concluded final contracts which now allow work to proceed at the 8.5 acre site.

The Edinburgh West Retail Park redevelopment will begin later this month and comprises of 114 new build residential properties along with 58,500 sq ft of retail accommodation.

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BP Pension Fund will forward fund and subsequently acquire the retail element once completed.

The park comprises of five retail units and three kiosks, ranging from 1,000 sq ft to 16,900 sq ft along with 285 car parking spaces.

RBS has sold 114 social-led residential development units to Chesser Developments.

Danny O’Neill, Chief Executive of Ediston, said: "We are now looking forward to working with BP and Chesser developments over the next 12 months to deliver the project."

(LM)