Sky-high city office rental costs to drop

EDINBURGH remains the second most expensive place in the UK to rent office space – but experts said prices could be set to drop.

The cost of hiring city centre space has increased by 25 per cent in a year, meaning only London is more pricey.

Research website officebroker.com said each workstation costs about £316 a month to run.

But because of big firms such as Tesco moving out of temporary accommodation, more space will be available, bringing more flexibility in prices over the short term.

Chris Meredith, the head of sales for the website, said: “Supply had previously been limited within the city centre, primarily due to the 4000 workstations occupied by Tesco while they were waiting for their new permanent office to be completed.

“The result of this change is that a large amount of high quality.”