PROMINENT GEORGE STREET PROPERTY IN MAJOR TRANSFORMATION PROJECT
Work has begun on a major refurbishment project at a well-known George Street building, which will deliver the first ‘defurbished’ office space on one of Edinburgh’s main thoroughfares.
New Clarendon, located at 114-116 George Street will provide 35,000 sq. ft. of new Grade A city centre office accommodation in the Scottish capital, with the work expected to be completed by September 2023.
The property is owned by Abrdn, with Knight Frank and JLL acting as joint agents. Its top floor has already been put under offer by a prospective occupier.
Set over seven floors, the building’s interiors will be defurbished – a modern design concept that typically includes exposed brick or concrete walls, visible vents and pipework, original flooring, and maximal use of natural light. Two new roof terraces and an additional balcony space on the second floor will provide outdoor access, along with views of the Firth of Forth and Edinburgh Castle.
‘Plug ‘n’ Play’ office space, where businesses can very quickly set up and trade will be available on the lower ground floors for occupiers with flexible requirements. The current car parking space will be replaced with a range of amenities to encourage active commuting, including 76 cycle racks, e-bike charging points, shower facilities, and 105 lockers, alongside a games room.
New Clarendon will also be highly sustainable, targeting a BREEAM score of ‘Excellent’ and an EPC rating of ‘B’, while the property will be certified both WiredScore and ActiveScore ‘Platinum’, meaning it will offer the best connectivity and active travel provision for occupiers.
Toby Withall, office agency partner at Knight Frank Edinburgh, said: “New Clarendon will provide much-needed high quality, modern space that caters to occupiers’ priorities and ESG requirements, particularly wellness facilities for staff and sustainable property.
There has been an acute lack of new office space coming through in Edinburgh city centre since before the Covid-19 pandemic. With its offering, we believe there will be a significant amount of interest in this property leading up to its completion later this year – a fact reflected by the top floor already being put under offer.”
Cameron Stott, head of JLL Scotland, added: “Edinburgh has a critical shortage of Grade A office accommodation and demand is strong for suites providing of 3,000-6,000 sq. ft. With New Clarendon matching occupiers’ sustainable ambitions, we are already seeing strong levels of interest.”
