EDINBURGH’S office market is firmly in recovery mode with a further pick-up expected in the coming months as larger firms look to set up shop.
Property experts say demand is building as businesses outgrow their current accommodation and multinational companies target the Scottish capital.
New research reveals that during the three months to 30 June, there were 50 fresh office requirements for the city. Combined with figures for the first quarter of the year, demand is said to be up by 10 per cent compared with the first half of 2012.
The data, disclosed by property agency Jones Lang LaSalle (JLL), is the latest evidence pointing to a steady if unspectacular revival in activity after Edinburgh’s commercial property sector was battered in the wake of the credit crisis.
Craig Watson, director of office agency at JLL, said: “During the first six months of this year we have experienced a significant increase in demand for office space throughout Edinburgh, and this demand is beginning to convert into transactions.
“Although the majority of these were small transactions, we are aware of larger active requirements, which are likely to further improve take-up levels.”