New office space drying up in city

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THE Capital’s office sector is heading for crisis as the supply of new space dries up, experts have warned.

Property bosses at French finance giant BNP Paribas said a squeeze would emerge as take-up of office space in Edinburgh tops levels seen last year while availability falls. They said investment in new offices in the city dropped 38 per cent to £30.7 million in the first half of 2012 but added that demand for existing space was healthy.

Andrew Cartmail, Edinburgh office head at BNP Paribas Real Estate, said: “The Edinburgh city centre office market is rapidly heading towards a supply crisis.”