Ryden has achieved full occupancy at one of Edinburgh’s largest industrial estates, Peffermill Industrial Estate, after letting the last remaining 2,500 sq ft unit to The Edinburgh Bakehouse.
The estate, which is owned by The City of Edinburgh Council and was last fully let in 2008, comprises 34 industrial / trade counter units ranging from 1,000 sq ft to 10,000 sq ft. The Council expanded the estate in 2009 with the development of Peffermil Parc, providing further modern industrial accommodation, and this is also now fully let.
The Edinburgh Bakehouse joins five other new tenants including: The Foodie Company, Finix Productions, Furnished Panda New Life Windows and RDM Polish Foods, all of which were signed up by Ryden in the last 14 months. Achieved rents were in the region of £6 - £6.50 per sq ft, with an average lease term of three – five years. Rents achieved for the more modern premises at Peffermill Parc were in the region of £7 - £7.50 per sq ft.
Longer established occupiers on the estate include Laurence McIntosh, Graham, Plumbing Trade Supplies, City Electrical Factors and BEMCO.
Cameron Whyte, surveyor at Ryden, commented: “This is a good sign of increasing confidence in the market, but it also shines light on a growing shortage of industrial properties in Edinburgh. We continue to see strong demand from occupiers for small to medium industrial premises in the city, particularly for good quality modern units, however these types of premises are becoming increasingly difficult to find.”