This scheme involved the reconfiguration and redevelopment of the ground and basement floors of a grade B listed building close to Edinburgh City Centre. When the unit was purchased it was occupied by Habitat Home Furnishings on a short lease. Deramore made a planning application for change of use to convenience store and 11 residential apartments above.
Deramore agreed a pre-let for the retail element to Sainsbury’s for one of their “local” convenience offerings. The completed store was the 2nd largest Sainsbury’s Local store in the UK totaling over 13,000 sq ft or ground and basement floors.
We then proceeded to convert the upper four floors of the grade B listed building into 11 large upmarket apartments. They were finished to a high turnkey specification and sold to a mixture of investors and occupiers. The Sainsbury’s investment was pre-sold to Associated British Foods who were attracted by the long term fixed uplift income stream.