Edinburgh’s office take-up resilient after EU vote

JLL highlighted demand for Edinburgh offices including One Lochrin Square. Picture: Contributed
JLL highlighted demand for Edinburgh offices including One Lochrin Square. Picture: Contributed
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Office occupier take-up in Edinburgh has stayed strong in the wake of the Brexit vote despite “Doomsday” predictions, and with 2016 possibly set to outstrip last year’s levels, says new research from property consultancy JLL.

It has reported a “steady” third quarter, with 134,462 square feet of office space spanning 44 deals transacted in the Scottish capital in the period, only slightly down on the previous quarter.

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The consultancy also highlighted landlords responding to demand with refurbishments, including Edinburgh’s largest single office building at One Lochrin Square.

However, JLL associate director Geoff Scott saidthat “many occupiers, developers and investors remain cautious about what the future holds as we near ever closer to formal Brexit talks.

“With much detail still unknown, making accurate predictions (on) the future health of the commercial property market remains extremely difficult.”

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