A new housing company has committed to investing around £100m in the social housing and mid-market rental sector…

Ediston Homes has pledged to boost the social housing and mid-market rental sector over the next four years, injecting significant funding to develop it.

The firm is the housebuilding arm of property investment, development, and asset management firm Ediston Real Estate. It is already working on its first project, based in Edinburgh.

The development, which is located at The Fruitmarket in Chesser, will comprise of a number of property types, designed to meet the demands of the local community. Some 34 properties will be semi-detached or terraced, which will be sold. Around 80 flats will also be made available for rent from November 2016 under the National Housing Trust initiative which promotes affordable housing.

The move to residential is a change for the company, which has previously had focus on commercial real estate. The launch of Ediston Homes will allow the company to focus on mid-market homes located mainly in central Scotland.

Managing director Peter 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 board will include former managing director of Miller Homes, Harry O’Donnell, who will come on as chair. He will be joined by Andy McKinlay and Bob Millar from Ediston Real Estate.

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, said it was the right time for the firm to invest in housing.

“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,” he said.

“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.”