The largest single office building in Edinburgh has officially opened after refurbishment to meet “unprecedented” demand from the city’s thriving technology sector.
Located in the city’s Exchange District, One Lochrin Square, which has 64,000 sq ft of space, is the former site of Scotmid’s headquarters and is the only self-contained building of its scale set to reach the market over the next year.
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Commercial property consultant Knight Frank and investment management company JLL, which marketed the offices, said owners UBS Asset Management undertook a speculative “defurbishment” on the building’s ground floor.
They said this is “a new property trend which provides stripped back, attic-style office accommodation” to attract occupiers in the Scottish capital’s “booming” TMT (technology, media and telecoms) sector.
Nearly a third of all office space transacted in Edinburgh last year involved TMT occupiers.