The purchase of the 16.8 acre site will see Robertson Homes build 121 new four, five and six-bedroom executive homes as part of Oakridge Group's wider St. Margarets Village masterplan.
St. Margarets Village is a brand new village community seven miles south of Edinburgh, centred on the conversion of St. Margarets Hospital into stylish apartments and houses, complemented by a sensitive new-build scheme of detached homes, all within a parkland environment of mature trees and sweeping views.
Robertson Homes' St. Margarets development has an estimated Gross Development Value (GDV) of £68million and work is expected to begin on site in the coming month, with the first completions expected by May 2024.
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John Murphy, managing director of Robertson Homes, said: "St. Margarets is a development tailor-made for Robertson Homes, being ideally located for travel into Edinburgh and within a mature parkland setting that perfectly complements the stylish design of homes we will be building.
"We have a track record of sensitive development around the renovation of beautiful listed buildings following our high-profile Great Glen Hall hospital site in Inverness and we intend to demonstrate again how the traditional and contemporary combine and contrast to create something truly exceptional which homeowners and the local community will be proud of."
Oakridge director, Malcolm Cunningham, said: "We are delighted to be working with Robertson Homes to create what is set to become Midlothian's premier residential location.
"Robertson Homes is at the leading edge of design and energy efficiency and their focus on environmental performance is very much in keeping with the wonderful natural environment at St Margarets.
"Having such a spectacular mature landscape surrounding a fine historic building is such a unique opportunity and a real privilege to be able to create a new village within this setting."
The first new homes for sale at St. Margarets are expected to be released for sale late Autumn.
