Office take-up in Edinburgh exceeded 754,000 sq ft in 2014, the highest on record, despite the interruption of the referendum in September.
After H1, when 419,000 sq ft was transacted, the market slowed down in Q3 amidst the uncertainty surrounding the referendum. Occupiers that could hold off did so.
In Q4, however, occupier activity recovered and take-up rose to similar volumes seen in the first half of the year. In a notable deal, Standard Life pre-let 108,000 sq ft at 6 St Andrews Square. This one deal accounted for over 40% of the total take-up in Q4 and demonstrates the importance of the financial service sector for the city centre office market.
Source : DTZ