Office space running low in Edinburgh

Published on Sunday 13 January 2008 20:31

THE amount of vacant office space in Edinburgh has slipped to its lowest level in three years, new figures from Jones Lang LaSalle have revealed.

The property consultant warned that Edinburgh would struggle to attract investment if space was not made available for companies looking to relocate to the city.

The latest analysis revealed that office space available in Edinburgh had slipped to a rate of 4.5 per cent.

Cameron Stott, director of agency and development at Jones Lang LaSalle Edinburgh, said only 320,000sq ft of Grade A office space was available in the city centre. Very little new-build, high-quality office premises are due to be completed in the coming year.

Stott said: "With the pressure of building costs, further rental growth can't be avoided if we are to see a continual flow of new office space on the market. Without new space coming through, Edinburgh will have few opportunities to attract inward investors and businesses."