Ryden’s latest Scottish Property Review, now in its 74th edition, has reported encouraging signs for the commercial property market in Edinburgh. The authoritative publication states that office take-up in the city for the 12-months to March 2014 was at 90,952 sq m, the highest total recorded for Edinburgh since 2004. Sustained recovery in occupier demand in East Central Scotland’s industrial sector was also highlighted, alongside details of numerous significant deals transacted over the past few months.
The latest deal transaction statistics for the city have also just been released by Estates Gazette interactive (EGi), with Ryden being named Edinburgh’s most active property agent for the 12th time. The firm is also home to the city’s most active deal maker after industrial agency associate Alan Herriot was recognised for his deal-making prowess for the second year in a row.
The EGi data shows that Ryden completed 163 commercial property deals in Edinburgh during the year to 28 February 2014, equivalent to a 21% market share and a 9% lead on its nearest rival. Turning to the office and industrial markets, Ryden handled 22% and 35% of all transactions, whilst its closest competitor claimed 20% and 13% respectively.
Office market highlights for Ryden include working jointly with Rapleys on Barclay House and introducing Grand Theft Auto video game maker Rockstar to the building, enabling Johnson Press to vacate their Holyrood headquarters. The team also represented Zonal Retail Data Systems at Tanfield, which let 1,939 sq m of space taking occupation of the office to 65%.
Interestingly on the industrial front, the Ryden agency team completed 40% more deals in 2013/14 than the previous 12 months. A selection of these deals included acquiring a 22,761 sq m purpose built distribution unit at J4M8 (Bathgate) for the retailer Schuh; agreeing a design and build for GeoPost in Newbridge for Roxhill (5,481 sq m) and the acquisition and subsequent letting at Newhailes Industrial Estate in Musselburgh on behalf of The Townend Partnership.