Rents Cut by 19% at South Gyle Business Park
12 November 2008
Asking rents have been cut by 19% to £16 per sq ft at Dunedin Property’s South Gyle Business Park by agents Ryden and King Sturge. The park has recently been refurbished and it is hoped that the reduction in rents will help to counter the effects of the credit crunch and attract tenants.
A total of 9,877 sq ft of vacant office space remains, which can be split into suites from 2,475 to 6,175 sq ft and is available on very flexible terms.
Dunedin acquired the business park in December 2004 and subsequently refurbished the majority of the buildings. This included a redesign of the common entrances and core areas with new DDA compliant lifts and improved toilet facilities. The external common and car parking areas were also upgraded to include new landscaping, new entrance areas and a purpose built coffee/sandwich shop.As a result of this numerous top quality tenants were secured such as Chubb, Initial Rentokil, Farrer Consulting and ICON Clinical.
Commenting on the news, Peter I’Anson of Ryden said: “I'm convinced that this approach will generate a lot of enquiries for the remaining space. This rent is now the lowest by a considerable margin in the South Gyle/Edinburgh Park location for quality accommodation with generous car parking at 1 space per 281 sq ft. We’re confident that we will secure a number of new lettings on the back of this exciting news.”
