This page contains a Flash digital edition of a book.
scotland |


IN MY VIEW’ A


fter the dark days of the financial crisis there are strong shades of light


returning to Edinburgh’s commercial property market. Buoyed by a renewed sense of market confidence, largely as a result of some impressive office pre-lets and investment statistics, the post- referendum bounce bodes well for the city. Demand for


Iain Mercer


offices is being driven by Edinburgh’s burgeoning tech sector; changed days for when financial and professional services led the way. In February, 128,600


sq.ft of Grade A space was pre-let at Quartermile 4 by the fantasy sports game company, Fan Dual, and the semiconductor company Cirrus Logic. Deals like these are just one example that the city is getting its mojo back. Similarly, London-based and overseas


investors are seeking opportunities here and elsewhere in Scotland where there is still pockets of value to be found. According to recent statistics, investment transactions in Edinburgh’s office market during 2015 totaled £380 million marking a return to pre-recession levels.


Office - 355 sq M (3,821 Sq Ft) Rents from less than £10 Per Sq Ft!


TO LET


Two Storey - Modern - Good Parking Beaverbank Business Park, Logie Mill, Edinburgh


For more information please contact


by Iain Mercer (Managing Director of IME Property Limited)


At IME Property we are seeing plenty of


local market activity with an increase in cash buyers and occupier demand for properties of all classes. Prior to Christmas we acquired a vacant office building at 14- 16 Holyrood Road for a private investor at a sum in excess of £500,000 and secured a flurry of office deals at Belgrave Business Centre on Frederick Street. Periphery locations, meanwhile, remain popular with our firm involved in a letting to Co- operative Funeral Care on the High Street in Dalkeith and a 12,500 sq.ft pre-let to Home Bargains on the Olive Bank Retail Park in Musselburgh. But before we all get too carried away,


let us not forget that we live in turbulent political and economic times. The EU referendum in June may, depending on the outcome, spark a second Scottish independence vote. And alongside the persistent noise about decoupling from the UK is the general economic uncertainty in the EU, fuelled by the growing migrant crisis. Some of these issues may be far from our shores but they can impact negatively on market confidence, particularly from investors. Despite these factors, IME Property is


pleased to be playing its part in Edinburgh’s continued revival.


NEWS IN BRIEF


According to new research by leading property consultancy JLL; the availability of offices in Edinburgh has fallen to its lowest level since the financial crisis in 2008. With vacancy rates falling to 4.8%, businesses looking to expand within the city are facing increasingly limited options.


The easyHotel on Edinburgh's Princes Street has changed hands for £1.75 million. Acting on behalf of the owners of Parcotel Limited, Colliers International sold the business to a London-based investor and operator, who will continue to operate and manage the business under the easyHotel franchise.


The Edinburgh office of National law firm Shoosmiths is building upon their successful real estate practice with the appointment of associate, Jill Turnbull; she joins from Anderson Strathern LLP, where she has practiced as a real estate lawyer for the last 13 years.


BEAVERBANK BUSINESS PARK B


eaverbank Business Park is an attractive office destination lying within a mile of Edinburgh City Centre. Unit 15 is currently


available to lease and offers 3,821 sq.ft of office accommodation over two floors and boasts 10 car parking spaces – an asset which is at a premium so close to the City Centre. Joint agent Roger Telford of Telford Property Consultants says


“A large Tesco is only two minutes walk from the park and is a very popular amenity with current tenants.” Roger’s joint agent on the property is Ian


Roger Telford 0131 344 4197 0131 226 0333 www.telfordproperty.com/beaverbank


Davidson, Head of Lambert Smith Hampton’s Edinburgh office who commented: “The business park is home to tenants such as Christie & Co, the Seafish Industry Authority, and Concept Systems. Unit 15 offers flexibility with open-plan offices over two levels, enabling the property to split if required. The building also benefits from having natural light


on three elevations providing a light airy feel and a pleasant working environment” Roger Telford or Telford Property


Consultants added: “Ian and I were colleagues at GVA Grimley several years ago, so it is good to be working together again on this instruction. “I am sure we will witness strong interest in the property as it offers a lot for the money, whilst avoiding the congestion associated with the immediate city centre. Our client is focussed on securing an occupier for this property and it is unlikely we will be beaten on value for money. Rents will be in the region of £10 per sq.ft, depending on lease length.” For more information, visit:


www.telfordproperty.com/beaverbank www.lsh.co.uk COMMERCIAL PROPERTY MONTHLY 2016 71


Ian Davidson


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100