A positive property for business

PROSPECTS for the office markets in major British cities have improved during the first quarter of the year, according to a report by property firm GVA.

Take-up of office space in city centres and out-of-town business parks was 2 per cent higher than the quarterly average in the three months to 31 March, the study claimed.

In Edinburgh, 171,779sq ft of office space was let in the first quarter, above the quarterly average of 110,955sq ft and boosted by a 47,800sq ft pre-let to investment manager Brewin Dolphin at Atria 1. Glasgow’s office market also outstripped its quarterly average, letting out 115,307sq ft, compared with 108,048sq ft.

GVA said it had “confidence of increased activity” for the second and third quarters because more companies are now looking for office space.