Biggest city office letting deal in decade

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THE biggest office letting deal to happen in the Capital for almost a decade has been announced.

US investment firm BlackRock is to take part of the first floor and three other entire floors of the Exchange Place One building, owned by Scottish Widows Investment Partnership (SWIP), in Fountainbridge.

Nigel Bolton, head of BlackRock in Scotland, said the deal was proof of the company’s long-term commitment to Edinburgh.

Darryl Tidd, SWIP fund manager, said: “This is an important letting for SWIP as Exchange Place is our largest office development in Scotland.”

Stewart Taylor, director of letting agent CBRE, which represents BlackRock, added: “The firm has worked closely with SWIP this year to agree a transaction that is unlikely to be bettered in the current cycle.”