The latest take-up information shows that city centre take-up reached 318,000 sq ft in H2 2015. While this is a marginal reduction on H1 2015, the results prove that Edinburgh remains a hotbed for occupiers.
This momentum has translated beyond the city centre boundaries, with take-up across Edinburgh totalling 1.15m sq ft. This is a 15 year high and almost double the 10 year average.
The Technology, Media and Telecoms sector (TMT) continued to dominate the occupier market, accounting for 41% of total take-up in H2. This included the 59,000 sq ft pre-let of Quartermile 4 by FanDuel Ltd which is the markets largest pre-let in 10 years.
Another notable feature of H2 was that the majority (49%) of office space let involved Grade C stock, in stark contrast with H1, which saw 40% of deals involve Grade A stock. The rise in the proportion of Grade C office deals can be attributed to the lack of available good quality office space which has declined by 16% in 2015.
Source : Knight Frank