The site – which has an estimated GDV of around £35m – includes provision for 66 new homes for private sale in a mix of one-, two- and three-bedroom apartments, mews houses and maisonettes, along with 11,000 sq ft of associated first-class retail and commercial space.
All the residential properties will be designed exclusively for the development, with 59 underground car parking spaces for residents planned.
Steven Simpson, director at Queensberry Properties, said that this was a hugely significant deal for the property developer.
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“We have recently delivered some of Edinburgh’s most successful prime residential developments, but our acquisition of what will be the first residential element to be developed within New Waverley takes us to an exciting, new level.
“New Waverley is widely recognised as one of the UK’s most important city centre regeneration projects, so naturally, everyone at Queensberry Properties is immensely proud to be part of this flagship venture.”
Clive Wilding, property director at Artisan Real Estate Investors, added: “We are delighted to have Queensberry Properties as our selected residential developer.
“They have an excellent track record of delivering high-quality homes in Edinburgh, so will very much complement the delivery of this highly significant £200m mixed-use project, which includes new offices for HM Government, due to be handed over in June 2019.
“This, coupled with some superb retail and food outlets around the main square – including renowned local businesses Loudens and Bruce Taverns – will firmly place New Waverley on the map.”