Edinburgh council winds up arms-length development arm

Artist impression of the new development planned for Market Street
. Picture: Stewart Attwood Photography — Artist impression of the new development planned for Market Street . Picture: Stewart Attwood Photography

COUNCIL chiefs are to wind up their arms-length development company EDI and take its work in-house.

The move comes after the company – set up nearly 30 years ago to build Edinburgh Park – made a profit of just £300,000 last year.

EDI had to be bailed out by the council in 2009 after the financial crash, but economy convener Gavin Barrie said the company had been developing important projects since then.

He said: “One of the main reasons we have made this decision is that EDI depends upon a supply of land but the council knows what it wants to do with the land we have which is build houses, so we will not have land to pass on.

“To have an arms-length company to do that type of work is not necessary. We believe we now have the expertise to do all that in-house.”

EDI is currently involved in five main projects – a new hotel in Market Street, a town centre and new housing in Craigmillar, housing, offices and a hotel at Fountainbridge, housing at Brunstane and a development masterplan at Granton.

Cllr Barrie said all would be completed. Each project would be looked at to decide the best way forward and some were likely to become joint ventures between the council and a developer.