Blackrock International Land has formed a new 50-50 joint venture to buy around 300 acres of agricultural land on the south side of Edinburgh.
The buy has been made in conjunction with Applecross Properties Limited and Esk Properties Limited.
The partners, Blackrock and Applecross/Esk, will contribute €3.5m each towards the initial price of €7m. The seller will be entitled to additional payment over time, depending on planning permission.
Blackrock says the lands are located six miles south of Edinburgh city centre and benefit from excellent transport links to the city centre and to the national roads network. Blackrock and Applecross/Esk have previously been involved in two joint ventures in Scotland.
