Scottish News
First occupier secured for Edinburgh’s Capital Square B
AM Properties, in partnership with Hermes Investment Management has secured the first occupier at Capital Square -
Edinburgh’s largest speculative office development, located within the Exchange business district.
Brodies LLP, Scotland’s largest law firm, is set to let the top three floors of the eight storey development. Extending to a total of 43,174 sq ft, the accommodation provides state of the art Grade A offices with spectacular views of Edinburgh Castle and the surrounding city. Designed by architects Hurd Rolland, the building is situated between Morrison Street and Lothian Road and features a glazed curtain-walling façade, double-height reception with a courtyard entrance, all set within south-facing landscaped gardens.
BAM Construction has been appointed to build the eight floor premier office development. Work is well underway and is scheduled for completion in May 2020. A further 79,033 sq ft remains available for let.
Hermes Investment Management, working in conjunction with Parlison Properties, secured planning permission for the scheme in 2015 and Parlison Properties is continuing as development consultant for the project.
Capital Square will feature a BREEAM ‘Excellent’ rating and an EPC ‘A’ rating on completion. Additional building features include concierge level front of house service, 24 hour manned security, shower and locker facilities for cyclists and runners and an extensive suite of additional tenant services.
Edinburgh ranks highly among EMEA tech hotspots
R
esearch from property consultancy CBRE has placed Edinburgh fourth in a ranking of Europe, Middle East and Africa’s (EMEA) normal technology clusters.
The report, EMEA Tech Cities: Opportunities in Technology Hotspots, provides a framework for occupiers and investors to assess the characteristics of technology clusters in economic, leasing and employment terms at regional and city level.
The analysis identifies four separate categories of technology cluster – scale, super, normal and growth - based on a city’s level, concentration and growth of tech sector employment. This approach reflects the fact that technology clusters are very diverse in their structure, cost base and attraction to specialist technology sub-sectors.
Edinburgh’s fourth place ranking in the normal cluster category reinforces its status as an important location in the technology sector for EMEA. Normal cluster cities are categorised on the basis of having between 20,000 and 50,000 people in high-tech employment, and a higher percentage of employment in the sector than the EU average.
Angela Lowe, senior director at CBRE in Edinburgh, commented on the findings: “Normal clusters are typically smaller capital cities supported by universities producing a high standard of tech graduates. With its financial services sector, reputable universities, and Scotland’s devolved government, Edinburgh ranks highly in this category”.
COMMERCIAL PROPERTY MONTHLY 2018 David Melhuish
£1.96m contract awarded for campus bridge A
£1.96m contract has been awarded to design and construct a new public transport bridge linking the north end of Inverness Campus with the Inverness Retail and Business Park.
Highlands and Islands Enterprise (HIE) is leading the development of the campus and has commissioned Wills Bros Civil Engineering Ltd to build the new bridge.
The contract forms part of the overall £2.7m cost of the project.
Programme for Government reaction D
avid Melhuish, director of the Scottish Property
Federation said “Since the completion of the Barclay Review we have strongly welcomed positive rates reform for economic development” and on the Building Scotland Fund and the National Investment Bank he went on to say “We welcome both these measures as a positive step to help Scotland’s real estate sector – an important driver of the Scottish economy and to allow
our sector to continue to attract the investment to deliver places, employment and housing.”
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