Office sales and lettings take off in Edinburgh

EDINBURGH’S office market has received a fresh boost after take-up soared during the summer months, according to figures published yesterday.

Edinburgh's office market: fresh boost. Picture: PA

Property experts also predict a bright outlook for the months ahead with enquiries reported to be coming in from a wide range of sectors.

Research by property consultancy Jones Lang LaSalle (JLL) shows that in excess of 340,000sq ft was leased in the city during the third quarter, surpassing the total for the first six months of the year.

JLL said that it was involved in about 80 per cent of the total share of square footage.

The firm is predicting a solid outcome for the full year, potentially matching levels last seen in 2007, prior to the credit crisis.

Ben Reed, director of office agency at JLL in Edinburgh, said: “Third-quarter take-up has been exceptionally strong, with some sizeable new lettings both within the city centre but also encouragingly in west Edinburgh.

“Enquiries are coming in from a broad range of sectors, of which a number are reporting increased headcount as a driver to move.”

Reed added: “With no new speculative development planned, there is increasing pressure on modern good quality space and larger corporate occupiers with forthcoming lease events should be alert to the growing shortage.”