Edinburgh developers, Glencairn Properties, turn over £10million transforming derelict buildings in Edinburgh and are set to grow even further.
The company is on course to double their profit in the next three years despite the ongoing social and economic challenges posed by Covid-19. Since March 2020, Glencairn Properties have had three planning permissions approved and are awaiting the application results for one more.
The company is on the cusp of exponential growth, with exciting projects in the pipeline for 65 units at Ashley Place and 110 units at Salamander Street.
This growth will increase Glencairn’s staff by 50%, creating new job opportunities in the sector. This announcement follows the ongoing transformation of 200 Great Junction Street. The development of the former State Cinema in Leith into 37 stylish, design led apartments which celebrate original art deco details with a minimal modern edge. The grade B, listed building has been on the risk register for over 12 years and has been left derelict and rotting from the inside for the majority.
Managing Director of Glencairn Properties, Daryl Teague said: “I’d say 95% of developers wouldn’t take on a site like this… It was in such poor condition and it’s location next to the water meant it needed specialised flood prevention. It needs a builders eye and understanding as well as money spent to do it properly. This wasn’t a quick fix, quick profit kind of project but it’s exactly the kind that I like and I get excited about – the features and it’s former use makes the design process and finished product one of a kind.”
“I live and work in Edinburgh.
“In 50 years I want to drive past the buildings we’ve developed and be proud, so cutting corners to better the profit margin isn’t an option.”
Looking for unique, interesting sites which can be reborn and appreciated in a new light, success for Glencairn doesn’t ride solely on the bottom line. An upcoming Glencairn Properties development on Montrose Terrace is one example, seeing an old, disused petrol station reimagined into slick spaces for living.