PROPERTY investors have secured planning permission to develop a £35 million logistics park in Edinburgh.

The Capital Park development in the Sighthill area of the city will feature 18 units. One has been pre-let to builders’ merchant Travis Perkins.

The development will be delivered by a joint venture formed by Chancerygate and Bridges Fund Management.

The venture acquired the site in April in a move that reflected confidence in the prospects for the Edinburgh economy.

Chancerygate development director, Mike Walker, said the scheme would provide urban logistics and trade counter space to serve Edinburgh’s “increasingly active and dynamic” small and medium sized enterprise sector.

He added: “The development has already attracted a considerable amount of interest.”

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The Capital Park development will be completed on the site of the Grayfield House office complex, which was used by HM Revenue and Customs staff for years.

The site lies close to car showrooms, campuses operated by Edinburgh College and Edinburgh Napier University and a Burton’s Biscuits factory.

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