Edinburgh offices hit new highs

Quartermile lets in Edinburgh are looking up. Picture: Contributed

Quartermile lets in Edinburgh are looking up. Picture: Contributed

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Office occupier take-up in Edinburgh is set for another record-breaking year, according to new research by property consultancy JLL.

The firm said 193,000 square feet was transacted between July and September, up more than 30 per cent on the same period last year, with occupier take-up for the year to date sitting at 605,000sq ft.

Notable deals included the pre-let of 58,567sq ft to fantasy sports business FanDuel at Quartermile 4, the sale of 40-44 Drumsheugh Gardens extending to 28,490sq ft to Square & Crescent for residential conversion, and the letting of 11,799sq ft at Cornerstone on South Gyle Business Park to Blyth & Blyth.

JLL associate director Geoff Scott said: “The market is very buoyant and we’re seeing more good sized requirements in the capital than we’ve seen for some time.

“We expect further pre-letting activity to be announced before the year end which will continue into 2016. The shortage of available supply and the timing of new completions may prove problematic for occupiers who do not have a strategy in place.”

Scott added: “In the city centre especially, supply is severely constrained. This message is now being heard and we are seeing some occupiers with relatively distant expiries start to take action.”

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