Regency Residential, part of the MCR Property Group, is bringing phase two of its £30million mixed-use Edinburgh development to market.
Embankment West, located on Gorgie Street two miles west of Edinburgh city centre, has seen one of the two former Chesser House office blocks transformed into prime residential living.
Phase one launched in April 2018, fully selling out to residential buyers who benefitted from the Help to Buy scheme available on the development.
Launching phase two of the development, which also includes Help to Buy, Regency Residential has now unveiled the upper floors of the scheme, including penthouse apartments.
The development comprises a total of 123 apartments, available as one, two and three-bedroom configurations.
Prices start from £129,950 for a one-bedroom apartment and buy-to-let investors can expect strong rental yields of up to 6%.
The second block, still known as Chesser House, consists of 40 affordable housing units, as well as ground-floor retail and leisure space. When completed the entire scheme will be known as Elfin Square.
Chris Taylor, managing director of Regency Residential, said: “Demand for phase one of Embankment West was exceedingly strong, with 50% of the development already sold. We expect phase two to create a similar level of interest, especially among the first-time buyers looking to take advantage of Help to Buy and enter into Edinburgh’s extremely robust property market.
“Edinburgh’s population exceeds half a million and is growing, but there continues to be a major issue with undersupply of quality homes. Considering the city’s documented potential, developing residential space is absolutely key.
“Embankment West is designed to dramatically enhance the area, providing well-designed and affordable housing that meets the needs of this increasingly popular city. We’re excited to be a part of Edinburgh’s significant growth as it continues to make an impact on a global stage.”