PLANS have been submitted for a £30 million-plus “urban logistics development” in Edinburgh, on the site of a former office building which is being demolished.

A joint venture between industrial developer Chancerygate and specialist investor Bridges Fund Management has submitted plans to speculatively develop 146,745 sq ft of Grade A "urban logistics accommodation" on a seven-and-a-half-acre site at Bankhead Avenue in Sighthill.

Named Capital Park, the proposed development is around five miles south-west of the city centre and will comprise 18 leasehold units ranging from 4.295 sq ft to 17,000 sq ft.

A bespoke 15,000 sq ft unit is already under offer to a national builders’ merchant, the developers noted.

Chancerygate and Bridges Fund Management plan to deliver Capital Park jointly.

The partners said yesterday that Capital Park would have a gross development value of more than £30m.

They noted it would replace Grayfield House, a 90,000 sq ft office building which is currently being demolished.

Neighbouring occupiers to the proposed development, which is one-and-a-half miles from the A720/M8, include Evans Halshaw, Tool Station, Edinburgh College, Edinburgh Napier University and Burton Biscuit Company, the developers noted.

Chancerygate development director Mike Walker said: “Submitting a planning application for this site is another key milestone in bringing forward this development."

He added:“We are very encouraged by the high interest we have received from potential occupiers to date. Once delivered, we believe Capital Park will be a best-in-class trade counter and multi-unit urban logistics development perfectly placed for Edinburgh’s increasingly active and dynamic SME (small and medium-sized enterprise) sector.”

Galbraith & Co and Ryden are agents for the Capital Park development.