Figures ‘bode well’ for Capital’s office market

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The current level of interest in Edinburgh offices “bodes well” for the rest of the year, according to property experts.

A new report by property firm Cushman & Wakefield has indicated that demand for offices in the city is now at its highest level since 2009, fuelled by interest from international companies.

But new figures also show that total take-up of offices in 2011 was 26 per cent below the historic annual average.

Stewart McMillan, senior surveyor at Cushman & Wakefield, said: “Edinburgh office occupiers displayed considerable caution during the economic uncertainty of 2011.

“Market activity was particularly subdued over the latter part of the year.”

But he added: “Existing demand levels indicate a number of companies are investigating these opportunities, which bodes well for market activity moving into 2012 and beyond.”