Office demand in Capital soars to three-year high

TAKE-up of office space in the Capital has reached a three-year high, according to a new report.

Figures released by property firm Jones Lang LaSalle have shown that 730,000sq ft of office space was let in 2010.

There were 183 deals across the city, with total take-up rising by 38 per cent compared with last year.

The development slowdown means there is now 24 per cent less prime office space available in Edinburgh. Cameron Stott, director of office agency at Jones Lang LaSalle, said: "Office take-up for 2010 was significantly better than had been anticipated, reflecting well on the resilience of the Edinburgh economy.

"There was notable activity in the finance sector, with Tesco Finance and Baillie Gifford expanding, whilst other financial occupiers such as Virgin Money are still actively seeking new accommodation."