12th March 2008
One-Third of Available Flats Snapped Up In First Weekend at Edinburgh's Springside
Website link: www.springside.co.uk
£4 million in sales generated in first day
Massive interest in Edinburgh's Springside has seen one-third of all available flats reserved in the first day.
Desperate house-hunters queued overnight for the chance to secure one of the new homes on the former Scottish & Newcastle brewery site in Fountainbridge.
Twenty-one of the 58 flats on offer were snapped up following the launch of the first phase on Saturday morning (February 2).
The first sales -- which represent £4 million in transactions -- have demonstrated the popularity of the city centre development, the birthplace of screen legend Sir Sean Connery, who has endorsed the re-generation of his former home.
The new homes have been designed to appeal to first time buyers, young professionals and families, meeting the current demand for smaller, more attainable units in Edinburgh city centre. More than half of the residential units will be one bed flats - one in 10 of these are less than £200,000, with prices starting at �?���£149,000.
Mark Coulter, director of Springside agent Savills, said: "We are pleased with the substantial interest in Springside, which has defied fears of a slow-down in the housing market. I have not witnessed such interest in a housing development since the boom of 2003-2004."
Springside is a joint venture between AMA, Grosvenor and the Royal Bank of Scotland.
Dr Ali Afshar, director of AMA, said: "The interest is a strong vote of confidence in our vision to create a distinct community with hundreds of new homes, stunning offices, shops and other local facilities in Fountainbridge.
John Irvine, director of Grosvenor, added: "The positive response reflects not only Springside's quality central Edinburgh location, but also the outstanding mix of one, two and three bedroom homes on offer.
Springside will feature 600 one, two and three bedroom apartments along with 140,000 sq ft of offices plus shops, cafes and restaurants. A third of the development area has been devoted to green space.AMA does not In anyway endorse the material presented or linked to and will not accept responsibility for inaccuracies or misleading statements. Readers should not act on the basis of the material without taking appropriate professional advice on their own particular circumstances.
AMA (New Town) Ltd
15 Coates Crescent
Edinburgh
EH3 7AF
Tel: 0131 226 1780
Fax: 0131 226 1730
