NEW DEALS SIGNED AT WELL KNOWN EDINBURGH CORPORATE OFFICE

BAM has announced three new lettings at Capital Square in Edinburgh, taking the development to almost 90% occupancy, with only 9,421 sq ft remaining available and a further suite under offer.

Anderson Strathern has taken 21,432 sq ft across the ground and first floors on a 15-year lease, representing the largest new build Grade A office transaction in Edinburgh this year. The Scottish law firm will relocate its staff from an office on Rutland Court, following a period of fitting out.

Audit, tax and advisory firm Mazars has leased 8,247 sq ft on the second floor on a 10-year lease, moving staff from an office in Apex 2 on Haymarket.

And following its acquisition of civil engineering firm Peter Brett Associates, Stantec is relocating staff based across two Edinburgh offices – in Eastfield House and Randolph House – into Capital Square. The company has taken a suite on the third floor, extending to 9,241 sq ft, and with its fit-out under way, it hopes to be in occupation before the end of the year.

The recently-completed development is located in Edinburgh’s Exchange District. It is equipped with an intelligent LED lighting system, electric car charging points and solar panels and also has a landscaped courtyard, outdoor seating and a private garden area.

Earlier this year, law firm Pinsent Masons achieved a Gold ‘Well’ certification for its office in Capital Square the first in Scotland to do so. Brodies has also recently taken occupation of a new office in Capital Square, following completion of a fit out.

Acting on behalf of the landlords BAM and Federated Hermes, property advisors CBRE and JLL are the letting agents at the building. As well as developing Capital Square, BAM also designed and constructed it, and now provides facilities management services.

Mark Broderick, development director at BAM, commented: “Our new occupiers are among the best businesses in their fields and understandably they all had high standards when searching for new offices in the city.

Our fantastic green credentials and wellness facilities, coupled with our central location in the sought-after Exchange District, ensure we have an unrivalled offering that enables us to attract the best occupiers in the market.”

Stewart Taylor, senior director at CBRE Scotland, said: “Securing these deals provides clear evidence that occupiers want best-in-class accommodation that resonates with their staff whilst helping to achieve their environmental goals.

With the shortage of accommodation of such high quality, we hope to announce a further letting in the building shortly.”

Craig Watson, director at JLL, added: “A growing number of occupiers are signing up to science-based targets, therefore sustainable office buildings which meet these commitments, like Capital Square, are letting ahead of their competition.

There is no doubt in my mind that ESG is growing in importance and is now a fundamental part of occupiers’ decision making when considering an office move.”