At the start of this month Property Week reported a strong Q3 for Edinburgh's office market, with total take up between July and October showing an increase of around 30% year-on-year according to JLL data.
The commercial real estate team at Morton Fraser was involved in each of Q3's largest occupier deals. Elspeth Carson and her team acted for Bam Properties in the pre-lets at Capital Square to both Brodies and Pinsent Masons. Elspeth's team also acted for Tesco Bank in their vacation of Haymarket Yards that freed the property up for Royal London.
Demand for Grade A office space in Edinburgh is so strong that there is very little coming on to the market, and what is available is sure to be snapped up quickly. The main City Centre availability at the moment is 2 Semple Street, where Ken Carruthers provided legal planning advice to GSS.
Ken's team also acted for Parabola recently in securing consent for their one million square feet office development at Edinburgh Park, and they also acted for Vastint in gaining a significant office and hotel consent at Fountainbridge.
In the industrial sector, Rossco Properties has bought a 186,000 square feet distribution unit in Livingston from Tesco. The facility is close to the M8 and is currently let to DHL. Morton Fraser acted for Tesco.