July 16, 2014
Strong demand for Edinburgh office space likely to slow until referendum result
Office occupier take up in Edinburgh continues to show strong demand, with total occupier take up over 470,000 sq ft, significantly ahead of the same period last year (301,000 sq ft) according to new research by JLL. Over 225,000 sq ft was transacted in Q2 (April – June), slightly less than the Q1’s figure of 245,000 sq ft. However JLL anticipates a slow down over the summer period in the run up to the Scottish referendum, a result of the holiday period and companies delaying decisions until the outcome is clear. Despite this, JLL predicts that year end take up will remain above the five and 10 year average. Activity was characterised by a greater number of smaller deals, with only 4 transactions over 10,000 sq ft. Enquiries continue to focus on offices which are well connected into the public transport network and offer good facilities for staff.