East Lothian Developments Limited (“ELDL”), a 50/50 joint venture between Souter Investments and Jim Aitken, is pleased to announce the sale of over 25 acres of land to Persimmon Homes and Barratt on its St Clements Wells site.
The sale represents a significant milestone for the development, which extends over 160 acres and surrounds the village of Wallyford in East Lothian. The sale of land to Persimmon Homes and Barratt will see development activity on the site accelerate, with over 300 homes to be delivered over the next 18 to 24 months. The first phase of completed homes is expected to become available in the second half of 2018.
This follows the sale of over 2 acres of land to Cruden Homes in March 2017, and is facilitating the construction of 44 affordable homes which will be completed in the Spring of 2018.
The development has secured planning permission for the construction of 1,450 new homes, a commercial centre and a new primary school, making it one of the largest current residential developments in Scotland. Construction of the new primary school by East Lothian Council is already underway for occupancy in 2019. The site is well suited to commuters with easy access to the A1 and a main line train station in Wallyford with a journey time of just 10 minutes to the centre of Edinburgh.
The JV was formed in 2013 to provide funding to support the site’s application for planning and the subsequent infrastructure development.
Souter Investments is also involved in a similar joint venture for the adjacent 85 acre Dolphingstone site, which received outline planning permission for up to 800 new homes in November 2017.