Citra Living acquires 87 homes from Barratt Developments

The acquisition of homes at Heron Bank honours the strategic partnership that Citra Living and Barratt Developments formed in 2021.

Citra Living has acquired a majority of the homes at the almost completed Heron Bank scheme in Edinburgh | Barratt Developments | BTR News
Citra Living has acquired a majority of the homes at the almost completed Heron Bank scheme in Edinburgh.

Lloyds Banking Group owned Citra Living has acquired 87 rental homes from developer Barratt Developments at its 115 home Heron Bank scheme in Edinburgh.

Following on from Citra Living’s acquisition of 156 new family homes at Barratt’s Winnycroft development near Gloucester, this new acquisition comprises 66 apartments and 21 colony-style houses in a mix of one-, two-, and three-bedroom homes.

Before its regeneration, the former brownfield site of the development was previously a disused steel works and builder’s yard.

“Our focus continues to be bringing forward high quality new homes and delivering a positive rental experience in places where people want to live. Brownfield regeneration has a huge part to play in the UK’s housing mix, and this scheme highlights how new life can be breathed into a disused site to grow the residential offering in what is already a thriving and well-connected area.

“It’s pleasing to see the continued success of our partnership with Barratt, which has consistently created high-quality homes for our customers. Anticipating our first customers arriving this summer, we look forward to the new residential community at Heron Bank taking shape.”

Andy Hutchinson, Chief Executive Officer, Citra Living

Situated on South Fort Street in the city’s Bonnington area, near the Water of Leith, the Heron Bank scheme is within walking distance to several cafes, restaurants, shops and local parks – including the Royal Botanical Gardens.

The Waverley train station and UNESCO-recognised Old and New Towns is also nearby. The recent acquisition of the Edinburgh homes from Citra Living to Barratt Developments means that the partnership will deliver more than 1,500 homes across the UK.

“Barratt Developments is proud to be continuing its partnership with Citra Living by providing much-needed rented accommodation in one of Edinburgh’s most vibrant areas.

“Barratt Developments is proud to be continuing its partnership with Citra Living by providing much-needed rented accommodation in one of Edinburgh’s most vibrant areas.

“With current conditions in the market, it’s more important than ever that we look at a spectrum of options when it comes to the development of homes. By transforming brownfield sites such as Heron Bank, we’re unlocking land that would otherwise lie dormant, providing further investment into the Leith community.”

Alison Condie, Managing Director, Barratt Developments East Scotland

Nearing completion, the first phase of homes at Heron Bank will be available to rent this summer.