Commercial property does well despite tough times

THE Capital's commercial property market ended 2010 on a high, according to new research

Real estate services firm DTZ found an increase in take-up of office space in the city, with 2010 finishing 20 per cent higher than 2009 and just ten per cent below the five and ten-year averages.

In the fourth quarter take-up reached nearly 210,000sq ft, including the acquisition of 100,000sq ft by Tesco Bank at EHQ in South Gyle.

Mark Jones, director of DTZ's Office Agency team in Edinburgh, said: "There are definite signs that companies that are in a position to take advantage of current market conditions have done so, particularly where significant gains can be made. As an indicator, in 2010, companies acquiring over 10,000sq ft of space doubled in comparison to 2009."

DTZ has predicted a slight fall in total take-up for 2011 due to the contraction of the public sector, but "remains positive on the continued emergence of the financial services sector".