Harbour Gateway welcomes final residents

Harbour Gateway welcomes final residents

Edinburgh's Harbour Gateway, Scotland's best example of Build to Rent, welcomes its final residents at the end of May in the largest BTR project of its kind in Scotland. Harbour Gateway is the latest phase of the Western Harbour managed rent community, with 234 mid-market homes delivered by Forth Ports partnership with Rettie & Co. Harbour Gateway and Western Harbour were made possible by innovative National Housing Trust funding provided by City of Edinburgh Council and Scottish Futures Trust on behalf of the Scottish Government.

Harbour Gateway's 234 homes attracted over 3,500 applicants. Forth Ports has put forward plans for close to one thousand additional homes at Western Harbour as a result of pent up demand for quality mid-market housing. Over the last decade, Scotland has built 80,000 fewer homes than required.

      Annual shortfall and cumulative undersupply in Scotland against nominal 25,000 pa target, 2007-2017. Source, Rettie & Co.

The Western Harbour vision has introduced key innovations as part of delivering the best possible outcome for residents. Rents for residents go up by no more than CPI, a deposit-free option is being trialled, and there is a dedicated residents' portal for communicating on community issues. 

In another first for Scotland, residents can avail of a new app pioneered by Rettie & Co. that enables residents to get enhanced credit ratings from paying rents. Currently, only mortgage payments qualify with credit referencing agencies.

Charles Hammond, Group Chief Executive of Forth Ports said, "I am pleased that the first phase of Western Harbour has been completed, bringing much needed affordable homes to Leith and the city more broadly. I would like to thank everyone that has supported the project and hope we can add a further thousand homes in time."

Cllr Kate Campbell, Convener of the Housing and Economy Committee, said: “This project has been made possible by a £29m loan from the Council through the National Housing Trust initiative. It has delivered much needed affordable homes for mid-market rent in this part of the city.”

Matthew Benson, Director of Development Services at Rettie & Co. noted, "We are delighted to have reached a key milestone in this ambitious project and are looking forward to the next phase. These homes bring the total number of Build to Rent properties with which Rettie & Co. has been involved to 785. The vast oversubscription for homes at Harbour Gateway illustrates the level of demand for this kind of high-quality housing in Edinburgh against a backdrop of chronic undersupply. Harbour Gateway also sets the standard for the collaborative way in which public and private sector financing deals can be combined to the satisfaction of clients and investors, while delivering high quality homes for residents."

For more on Build to Rent housing and developments, get in touch with Rettie & Co.'s dedicated Build to Rent team. No other company is Scotland are better positioned to deliver operational success in BTR developments than Rettie & Co.

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