Project Scotland

Edinburgh occupier market ‘resilient’ despite Brexit vote

one_lochrin_sq_external_b-2

OFFICE occupier take up in Edinburgh is said to be on course to defy “gloomy” Brexit predictions, according to new statistics by JLL.

The news follows a “steady” third quarter of 2016. JLL said 134,462 square feet of office space, spanning 44 deals, was transacted in Scotland’s capital between July and September, only marginally down on the previous quarter.

Total take-up for the year to date reached 570,000 square feet, just 5% behind the transacted space recorded at the same point last year.

Notable deals in Q3 included Cirrus Logic taking a further 22,572 square feet at Quartermile 4, Intergen taking over 10,000 square feet at 81 George Street, and HSBC occupying a further 8,966 square feet at 6 Lochside Avenue.

Geoff Scott, associate director at JLL said, “Four months on from the EU referendum, it’s clear that the occupier market in Edinburgh has remained resilient in spite of a vote for Brexit. There continues to be strong demand for city centre locations and space in excess of 20,000 square feet. Encouragingly, the number of new enquires increased by 20% over the last quarter, despite overall take up dropping slightly.

“Our research shows that there is still a significant level of live requirements seeking space over 20,000 square feet over the next few years, and we are confident that a number of larger requirements currently under offer could push take up for the year close to or in excess of what was achieved in 2015.”

Share this article

Related Posts