Parabola, developer and owner of Edinburgh Park, has agreed a deal with Edinburgh-based S1 Developments to create housing for sale at the 42 acre site on the western edge of the capital city.
S1 is to develop the residential homes for sale as part of Parabola’s masterplan to create a new urban quarter.
It was recently announced that AEG Europe, owners of The O2 venue in London, are seeking planning approval for an 8,500-capacity arena at Edinburgh Park.
The first commercial building at the site, 1 New Park Square (1NPS), completed in 2022.
Parabola chairman Peter Millican said: “Parabola is delighted to announce that S1 Developments will be building and marketing the apartments for sale at Edinburgh Park.
“We have been struck by S1 Developments bespoke approach, exceptional knowledge of the Edinburgh market and real attention to quality which has been recognised by their unparalleled recognition through so many national awards.
“The start of the residential element of Edinburgh’s newest quarter is a significant milestone in the delivery of Parabola’s vision.”
Dan Teague of S1 Developments said: “S1 Developments has a reputation for successful new build and conversion projects in Edinburgh’s most exclusive and challenging locations.
“We are looking forward to delivering another exceptional scheme at Edinburgh Park which will feature the hallmarks of S1 Developments approach.
“We are hugely excited to be a part of such a visionary masterplan and to add to the momentum of the exciting announcements coming out of Edinburgh Park.”
Parabola MD Tony Hordon said: “With the support of our advisors Savills and Justin Lamb Associates, we embarked on a considerable exercise last year to identify a partner to help deliver the residential piece of our masterplan.
“Through this exercise we had a number of expressions of interest, however it was clear, S1 were just perfectly aligned to our group, our passions and ambition for EP.”
Ben Brough, Savills Head of Scotland Development, said: “It is exciting to witness Parabola’s vision for a new urban quarter come to life, with the announcement that cutting edge residential homes will be delivered by S1 Developments.
“With its emphasis on blending business with art, culture, community and wellness in a sustainable living environment, Edinburgh Park will further the capital’s global reputation for exceptional quality of life.
“We are excited to be part of a truly spectacular project and anticipate high levels of interest from homebuyers when these properties come to market.”