Edmond de Rothschild REIM has secured the loan to regenerate Stead’s Place in the Scottish capital, creating 110 apartments.

Located near the foot of Leith Walk, this collection of one, two and three-bedroom apartments is scheduled to be completed by the first quarter of 2025.

The 2.9-acre site is formerly an industrial and office-use estate that was first earmarked for development by the city’s council in 2008. The redevelopment is being undertaken by Drum Property Group.

This deal is the fourth collaboration by STB and Edmond de Rothschild REIM following other developments in Glasgow, Nottingham and Leicester.

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“We are pleased to once again work with Edmond de Rothschild REIM and support the redevelopment of Stead’s Place,” said Matthew-Blaine Young, head of origination at STB.

“As specialists in residential development finance, we knew we could go above and beyond what other banks are able to offer, and we are thrilled to see this project come together and watch the local community thrive through the new development.”

James Whidbourne, head of residential fund management (UK) at Edmond de Rothschild REIM added: “STB’s solution driven approach has been refreshing, and the success of Stead's Place and our previous collaborations are testament to that.”