A key office development in Edinburgh is now fully occupied after the completion of two new lettings.
Brand protection consultancy Arc-net has taken 1,300 square feet at 2 Lochrin Square, in the Fountainbridge area, while software company Perivan Technology has expanded its presence in the building by relocating to a larger suite of 1,800 sq ft.
The twin lettings mean that the wider Lochrin Square office development, comprising of both 1 and 2 Lochrin Square, is now fully let.
Relaunched in March 2017 by UBS Asset Management on behalf of the owner, 1 Lochrin Square has undergone an extensive “defurbishment” – a stripped-back attic-style of design – to appeal to the city’s burgeoning tech community. The 2 Lochrin Square building underwent a similar revamp less than 12 months ago, with “significant” investment in the refurbishment of its entrance and reception.
Simon Capaldi, office agency partner at joint letting agent Knight Frank, said: “2 Lochrin Square has filled up quickly on the back of the work conducted on the building. The entire Lochrin Square scheme has proved very popular with tenants – particularly tech occupiers – which is testament to the success of the investment that has gone into the buildings over the past few years.
“In a wider sense, Lochrin Square has been pivotal to the dramatic changes Fountainbridge has undergone in the past ten years – particularly the last two or three. There is a real buzz about the area.”
Craig Watson, office agency director at JLL, added: “There is a real focus for tenants on fully refurbished office suites due to the lack of choice and shortage of stock across central Edinburgh.
“Fully refurbished options are now proven to let quickest in our market so there are significant opportunities and shorter voids for landlords who speculate and invest in their office buildings.”