Work starts on speculative CityWest office development in Edinburgh
23 November 2011
Edinburgh based J. Smart & Co. (Contractors) PLC has announced that construction has commenced at its c. 25,000 sq ft modern new build speculative office development CityWest. The development, which is part of a larger mixed use scheme incorporating 88 residential units, will comprise a five storey building with flexible floor plates ranging from 2,088 sq ft to 6,911sq ft and 20 secure car parking spaces. Completion is expected by Q3/4 2012.
CityWest is being built on the former Bank of Scotland Computer Centre on Robertson Avenue between the main arterial roads Gorgie Road and Slateford Road, with the City Centre and City Bypass being within 5 and 8 minutes drive, respectively.
The office has been designed to a high specification with quality finishes throughout, terraced balconies, floor to ceiling glazing on the top levels, and an impressive double height entrance lobby. HAA Design has been appointed as interior design consultants for the reception and common part areas to ensure the development stands out from the pack.
Ryden and James Barr are joint marketing agents on the development and interest is currently being sought for large portions of the building on a lease basis. Consideration will also be given towards a sale of the entire building if an interest was to come forward.
David Smart, Development Director at J. Smart & Co. (Contractors) PLC comments, “We are pleased to bring our latest office development in Edinburgh, CityWest, to the market. We have historically been able to adopt a counter-cyclical approach to development and avoid development lag. We look forward to what will be one of the few completions of a speculative office building in 2012.”
Hamish Sutherland at Ryden added, “There is a lack of speculative development coming forward which, combined with continued take up of new build city centre stock, suggests that the market is close to an under-supply in late 2012 onwards. Our research also shows that there are a significant number of lease expiries during 2012/13, with these occupiers looking to move from out-dated buildings, often on very historic leases and rents, into higher specification buildings. J Smart & Co’s development is therefore welcome news for the Edinburgh office market.”
Further information can be obtained from joint marketing agents James Barr and Ryden or at www.citywest-edinburgh.co.uk
