Empty office space on the rise in Capital
MORE office space is lying empty in the Capital now than in any year since 2003, new research has revealed.
Property firm CB Richard Ellis's annual review of commercial property has found that there is currently 2.4 million square feet of office space available in Edinburgh.
It means that Edinburgh has double the amount of space available in the central business district of Glasgow.
Take-up was boosted in 2007 by a recovery in transactions over 10,000sq ft, although 83 per cent of transactions have been for space under 5000sq ft.
Professional services accounted for 30 per cent of all deals in Edinburgh, followed by business services, banking and finance.
On the investment side, deals included F&C Asset Management's 14.4m purchase of 2 Lochside Way, the 36m purchase of 525 Ferry Road by Sirco and the 15m investment in The Tun on Holyrood Road by a private investor.
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Saturday 18 February 2012
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