THE first phase of a £5.5 million refurbishment programme at an Edinburgh city centre office buildings is nearing completion.
Nearly 20,000 sq. ft. of office space across three floors will be available from November at Exchange Place 2, located in Edinburgh’s Exchange District. The building is being marketed by commercial property consultancy Knight Frank and EYCO.
The building is targeting an ‘A’ Energy Performance Certificate (EPC) rating. The project includes a new reception area, a wellbeing hub, and the installation of 80 cycle racks and a bike repair station to support active commuting.
Work will begin on the second phase of the refurbishment project in 2027, with delivery expected next summer, providing an additional 38,000 sq. ft. of Grade A space on the building’s upper four floors.
The refurbishment arrives as the lack of high-quality office space in Edinburgh continues to intensify. Figures from Knight Frank suggest that Grade A vacancy in the city centre is just 2.7%, with little additional space in the pipeline.
Toby Withall, partner at Knight Frank Edinburgh, said, “Exchange Place 2’s refurbishment provides much-needed, high-quality office space in Edinburgh city centre. The programme of work has been tailored to modern occupiers’ needs, emphasising sustainability and wellbeing.
“With demand for Grade A space continuing to outweigh supply, Exchange Place 2 will bring a welcome boost to occupiers looking for quality accommodation in central Edinburgh. We expect to see a great deal of interest in this first phase of delivery and look forward to getting underway with the second next year.”
Neil McConnachie, managing partner at EYCO, added, “We are delighted that the refurbishment of Exchange Place 2 is well underway and, with 57,882 sq. ft. of Grade A space available over the next 12 months in floorplates ranging from 5,269 sq. ft. to 10,297 sq. ft., we will be well placed to meet the demand of all occupiers.”
