In a deal brokered by Savills for the sellers Saica, with Scarlett Land and Development Ltd acting for the purchasers, the prime 15.5-acre residential-led site has been identified in the City Plan 2030 as capable of delivering just over 1,000 new homes for the city.
Ben Brough, head of development for Savills development, said: "Our client was clear from the outset that it would prioritise interest from parties who aligned with their own commitment to supporting sustainable communities in the places they operate. We are therefore delighted that the bid from Summix was successful: they have an outstanding track record in designing and delivering thriving new mixed-used communities.
"Edinburgh is on a growth trajectory and their aspirations chimes with the council's vision to transform the west of the capital into a high-density, mixed-use extension to the city with a focus on placemaking, sustainability and connectivity.
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"This must be one of the best-connected sites in Scotland, with both train station and tram stops into town on the doorstep; the airport just ten minutes away; and Scotland's motorway network close by, providing easy access to Scotland's other cities."
Stuart Black, development director for Summix, added: "The purchase of this former industrial site provides a very exciting opportunity for us as a business, and we would like to thank Saica for entrusting us with it. As new custodians, it provides an incredible opportunity to redevelop one of the last major pieces of brownfield land in the city into a brand-new, sustainable mixed-use community.
"The site's regeneration has the potential to provide much-needed homes, employment and investment, helping to address the current housing emergency, and taking advantage of and strengthening already excellent public transport links by train, tram, bus and cycle.
"This purchase reinforces our continued commitment to invest in the capital, and we look forward to engaging with the community and other key stakeholders on our exciting proposals for the site in due course."
Will Scarlett said: "We are delighted to have acted as agents for Summix in the purchase of what is one of the most exciting development prospects in Edinburgh.
"Large scale prime sites such as this rarely come to the market in the city, and provides an ideal opportunity to regenerate a former industrial site for a residential-led mixed-use development. Its redevelopment by Summix will prove a welcome addition to the community."
Spain-based paper and cardboard company Saica has relocated to a purpose-built facility at Deans Road in Livingston. It is active in nine other European countries.
