Real estate finance specialists SHC Capital has secured funding for a £105 million residential development that will deliver 370 new homes next to Edinburgh's BioQuarter.

The site, which is part of the Edmonstone Estate, has been acquired by responsible property investor Hunter REIM.

Planning permission is already in place for the creation of a total of 725 mixed-tenure residential units, of which 370 will be single-family, Build to Rent homes. Of these, 129, which is 35% of the total, will be affordable housing. The funding for Hunter REIM's acquisition came from a private debt fund in a structured transaction brokered by SHC Capital.

-- Advertisement --

Tony Tadros, Director at SHC Capital, said it was a pleasure to work with Hunter REIM and that he looks forward to partnering with them on their strategic expansion and the delivery of "hundreds of much-needed, sustainable homes in Edinburgh."

The creation of the homes next to the £1 billion BioQuarter life sciences hub will help meet the surging demand for housing in Edinburgh, which is growing nearly three times faster than the rest of Scotland. The design by Hunter REIM will deliver highly energy-efficient homes and a heat network with an on-site energy centre to provide cost-effective, low-carbon heating and hot water to every home.

Andrew Moffat, Managing Director of Hunter REIM, added: "When Hunter REIM was formed in 1999, sustainability was a niche issue. Things have changed, and so have we. Today our focus isn't on growth alone; it’s about growth plus transparency, social responsibility and environmental impact - and that’s what this exciting scheme will deliver.

"SHC Capital's expertise in understanding the complexities of our site acquisition was invaluable. They helped us execute the transaction swiftly with the support of a private debt fund, enabling us to take a major step forward in our growth and strategic objectives."