Biggart Baillie LLP is First Tenant at Lochrin Square
17th July 2007
Legal firm takes 18,000 sq ft pre-let at key city centre development
Lochrin Square, Gladedale Capital and Scotmid Co-op’s landmark development in the heart of Edinburgh’s Exchange District, has secured legal giant Biggart Baillie LLP as its first tenant.
The commercial law specialist is moving into No 2 Lochrin Square, consolidating existing premises in the capital. The firm will occupy three floors, covering 18,235 sq ft, accommodating up to 120 staff. The building provides high quality client and staff facilities and the move reflects Biggart Baillie’s tremendous growth in the Edinburgh area.
Lochrin Square is a £50 million redevelopment of the former Scotmid HQ. When complete it will comprise two prominent office buildings of 63,710 sq ft (5,919sq m) and 32,900 sq ft (3,056 sq m) with garage parking. The development is set around a landscaped courtyard linking the principal pedestrian route from the city centre through the financial district and on to Edinburgh’s evolving canalside. It will also feature a 4,000 sq ft (372 sq m) restaurant unit.
David Robinson, Development Director for Gladedale Capital, said: “We are delighted to have secured a tenant of the calibre of Biggart Baillie. Their early decision to locate to Lochrin Square demonstrates the quality of the development being undertaken.
Biggart Baillie Managing Partner Derek Ellery said: "We have been focusing on the development of our client and staff facilities across all our offices in Edinburgh and Glasgow. In addition to this move in Edinburgh, we’re currently completing a significant refurbishment of our Glasgow office that will provide first class accommodation for our clients, staff and visitors. “
Peter I’Anson of Ryden said: “It’s great to be able to announce this deal formally after the rumours surrounding it. The excitement is largely because it’s a pre-let and a huge deal all at the same time. It’s excellent news all round for Lochrin Square, the location and our client.
The full range of office suites available at Lochrin Square will be attractive to a number of occupiers as floorplates will range from 7,000 sq ft up to 62,000 sq ft. There are already a number of interesting enquiries which is extremely encouraging considering the office will complete this October and there are no new, prime city centre, Grade A developments completing during 2008".
Credit Suisse Asset Management has speculatively funded 100% of the finance for the development.
Ryden and DTZ are acting for the developers at Lochrin Square. Eric Young and Co acted for Biggart Baillie LLP in this transaction.
