National Grid puts 40-acre Granton landmark site on the market

The Forthquarter site in Granton – which includes the Granton gasholder – has been put up for sale in a bid to deliver much needed family housing to meet unsatisfied demand in the Edinburgh market.

Interested parties will need to demonstrate their ability to both develop the site and find a creative approach to repairing the listed Granton gasholder.

The landmark structure, which was originally put on the market two years ago, is now being offered to developers with the 40-acre site large enough for 1,000 new homes.

Benjamin Gaunt, from National Grid Property, said there is an opportunity for a new alternative use of the gasholder which complements the regeneration objectives of the wider area.

He added: “National Grid is keen to unlock the potential of this area and bring forward much needed family housing for the city. To do that, we need to address the situation with the disused gasholder. We have asked for consent to remove the gasholder which is now redundant to National Grid’s operational requirements.

“As part of its consideration of the application to remove the holder, the City of Edinburgh Council and Historic Environment Scotland have asked us to market the gasholder and surrounding site to ascertain whether there is any interest from a purchaser willing and able to develop the site and repair the gasholder. As current owners, we are obliged to ensure that any interested parties are credible buyers and are able to invest appropriately in the repair of the gasholder.”

Cushman & Wakefield marketing agent, James Thomson, said: “Edinburgh’s thriving economy and resultant population growth is putting significant pressure on residential land supply. The Fourthquarter is one of the very few opportunities to acquire a significant serviced land holding in a location within a short distance of the city centre and where more affordable product can be developed.”

National Grid, which owns the Forthquarter site, has reiterated its commitment to demolish the gasholder if a suitable purchaser does not come forward.

Benjamin Gaunt added: “The marketing of this site offers an opportunity for a developer to come forward and play a critical role in the development of Edinburgh’s waterfront. However, if following the marketing process no suitable purchaser has come forward, we will continue to play our role in regenerating the Forthquarter and will work with developers to enable the delivery of much-needed housing and apply for the demolition of the gasholder.”