Commercial property: Investment Quay to letting success

Castleforge Partners has announced that it has secured a series of lettings at Commercial Quay in Leith, Edinburgh, following a partial refurbishment of the landmark office, retail and leisure development.

Located in Leith’s shore area, Commercial Quay offers varied office accommodation across four category A-listed buildings.

Since taking ownership in late 2018, London-based Castleforge has invested in the development to create unique working environments designed to service a range of occupiers.

Deals recently secured for Commercial Quay include agreements confirmed with legal accounting specialists Alex Quinn and Partners for 3,786sq ft on a five-year lease, marketing agency Cello Signal for 2,227sq ft in a ten-year deal, and Mercy Corps Europe taking 6,273sq ft, also on a ten-year basis.

Public relations and social media agency Sunshine Communications has taken 1,721sq ft for three years.

Jenny Emslie, managing director of Sunshine Communications, says: “Commercial Quay is an ideal fit for us. Moving here has enabled us to create the type of working environment we wanted for the business and our team, on a flexible deal.

“We love the development’s character and waterfront promenade, and the proximity to excellent amenities and transport links makes this a great area to operate and grow the company from.

Emslie adds: “Leith has evolved into a vibrant hub which is now home to a community of dynamic and creative businesses that we’re thrilled to be joining.”

Tenants already based at Commercial Quay span a wide range of business sectors, highlighting the adaptability of the building.

Occupiers include The Leith Agency, a creative and advertising firm; Inova Geophysical, which makes seismic instruments; the Blonde Digital Marketing agency; media giant Thomson Reuters; Royal HaskoningDHV, which offers engineering, design and project management services, and software company Ajenta.

Rachael Pittaway, who works in real estate with Castleforge, says: “Leith is a thriving area that’s attracted an influx of businesses over the past few years, so we wanted to respond to this trend of expansion
by providing workspace that matched the calibre of the businesses re-locating here.

“We worked to ensure that the development retained the character and charm of the buildings’ category-A listed status, while providing high-quality contemporary accommodation suitable for a range of requirements, regardless of the size or sector of the business tenant.

Iain Taylor, associate at agent Ryden, commented: “Leith has witnessed strong office take-up over the past 12 months and continues to be a popular business destination in Edinburgh.

“Commercial Quay enjoys a prime position with excellent amenities and transport links, which are only set to improve following the news that Edinburgh’s tram line is to be extended to Newhaven.”