Quintet of Office Deals Within Days
11 July 2008
In a positive story for the commercial market, Ryden has sealed five Edinburgh office deals within a matter of days.
For Credit Suisse Euro Real, Ryden, with DTZ, secured Co-op Bank Plc as the latest occupier at the hugely successful Lochrin Square development. The bank signed a 10-year FRI lease on 1,822 sq ft of office space, at £29 per sq ft and will be occupying part of the ground floor within building no.2, alongside other occupiers, Biggart Baillie and Watson Wyatt.
Further west, ICON Clinical Research UK (Ltd) took a recently refurbished 3,619 sq ft suite at South Gyle, with Ryden and King Sturge jointly representing thelandlord South Gyle Park Property Investment Ltd. ICON has extended its occupation and agreed a 10-year lease at £18.70 per sq ft. 13 car parking spaces were included in the deal.
The National Schizophrenia Fellowship (Scotland) has taken a 941 sq ft office at £15 per sq ft, including a car parking space at Newington Business Centre on Dalkeith Road. Ryden represented the private landlord.
In central Edinburgh, the firm assigned the lease of a 577 sq ft office/retail unitat 9 Dean Park Street at a passing rent of £20.80 per sq ft to a private tenant who will be trading from the unit as an arts and crafts workshop.
For Optimal Analysis, a company which provides analysis solutions for sports organisations in transferring knowledge, Ryden acquired a 983 sq ft office lease at 11-13 Cumberland Street. A 5-year lease was agreed at £16,000 pa.
Peter I’Anson, office agency and development partner, said that the deals reflect continued demand in the occupational market, particularly for smaller office space despite current economic difficulties: “We see that the smaller end of the market is continuing to tick along, with the larger companies reacting to office relocationsonly if they have up-and-coming break options or lease terminations.”
