Students to Face Even Higher Interest Rate Charges After RPI Increase
20th Apr 2018
The last remaining live music venue in the Leith area of Edinburgh could make way for student housing and a hotel development.
Leith Depot is one of just several businesses expected to be affected by a multi-million-pound development project put forward by the Drum Property Group.
Although plans are at preliminary stages, the company snapped up a large portion of land at Stead's Place last year, as it looks to replace existing buildings with a mixed-use development.
According to Drum Property Group, the development will create a mix of affordable housing, innovative post-graduate student accommodation, hotel facilities for visitors to the city, and community space.
The company will team up with Edinburgh University to deliver the student accommodation.
A statement released by Leith Depot, said: "We are aware of the planning application notice that has been published for the block that we are other businesses are located in. Our lease will come to an end in 2019 and we're now speaking to our landlord to figure out what options are available to us."
Plans for the development of the area were lodged after a Scottish Government backed report suggested there was growing discontent about local businesses and residents being priced out of living and working in the area. A key concern raised was the impact of student accommodation.
20th Apr 2018
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