Exemplar Properties is to buy Edinburgh’s most prestigious development site, in a dramatic entry on to Scotland’s large-scale development scene, according to Property Week.

The London developer is believed to be paying around £65m for the Scottish capital’s Quartermile — a half-built mixed-use scheme that was put up for sale by Gladedale Group.

It beat bidders such as Moorfield and Axa Real Estate Investment Managers, and is believed to be in talks with several funders to form a joint venture to complete the development. Of these, Area Property Partners is the frontrunner.

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