Ediston has thus far concentrated on commercial real estate with only fleeting investment into residential, but this is set to change with the launch of Ediston Homes.
The new brand will focus on mid-market homes mainly in central Scotland with some of its projects, such as The Fruitmarket, being mixed use and developed in conjunction with Ediston Real Estate.
Ediston Homes is headed-up by managing director Peter Brogan, formerly of Muir Homes, who is responsible for delivering the ambitious business plan.
Brogan said: “At the moment not enough new homes are being built in Scotland which is creating high demand across all housing sectors.
“Coupled with the current economic conditions, this makes it an ideal time to launch this exciting new business.”
The company’s new board includes chairman Harry O’Donnell who was previously managing director of Miller Homes, as well as Andy McKinlay and Bob Millar from Ediston Real Estate.
Danny O’Neill, founder and chief executive of Ediston says that recent changes in the housing industry make it the right time for the company to invest and develop opportunities directly.
He added: “We are increasingly looking at commercial development sites where residential could or does form part of the project masterplan, and with the funding we can bring to mixed use developments, Ediston Homes allows us to now consider such opportunities.
“Our commercial real estate business remains the dominant part of the Ediston Group and has thus far invested £203m into the UK market in 2015 and this focus will not change.
“However the team at Ediston Homes has an opportunity to create a great business in a sector which is need of additional well-funded developers and more importantly much-needed delivery of new homes.”