Virgin Money is to move into new headquarters in Edinburgh.
Edinburgh is celebrating after seeing its largest office space transaction since 2009, thanks to Virgin Money confirming that it is to move into St Andrew Square in the city.
The finance firm will lease the 30,000 square foot office space following an agreement with Heineken UK. Heineken UK took over following their purchase of Scottish and Newcastle.
Virgin Money will move into its offices in the summer and is looking to recruit over 300 staff as part of plans to enable them to start operations from the first day.
Technology media and telecommunications firms have taken up the largest amount of office space in the West End.
Office space in London‘s West End now has more tenants in the telecoms, media and technology sectors than in the traditional areas of banking and finance for the first time since the start of the millennium.
The findings come as part of a report by commercial property analysts King Sturge who state that companies in the technological and new media business account for 23% of leasing and rent, compared to 14% in the financial services sector.
While the new technology and media firms are currently enjoying the adulation of the City’s financial district – due in part to Facebook’s recent £31 billion valuation by Goldman Sachs – analysts have warned that there could be another burst bubble to go with the 2001 financial crisis in the dot.com industry.
Alder King released a report analysing the last 12 months in the south west commercial property market.
Property consultants Alder King have released their findings relating to the health of the commercial real estate market in the south west of England during the previous 12 months.
There are promising improvements relating to office space in the important cities of Bristol, Gloucester, Cardiff and Swindon.
These findings are from Alder King’s annual Market Monitor report which focuses on how well commercial properties are faring in the south west in contrast to the rest of the country.
A Dublin firm has moved into Belfast offices.
Farrelly and Mitchell has taken up office space in a seven storey Belfast building thanks to one of the largest Northern Irish commercial property deals agreed in recent history.
The financial services company have agreed to let the 20 Adelaide Street office building for £10.50 per square foot.
One of the factors behind Farrelly and Mitchell agreeing terms was the excellent location of the mixed-use property.
The NSPCC are to move into Leeds offices within the next few months.
A children’s charity has agreed to move into new office space in the city centre of Leeds with the change of offices expected to take place in spring.
The NSPCC has opted to expand into new offices after signing up to a new commercial property at St John’s Offices which are in Albion Street.
It is expected that around 40 staff will be move from its current site above the Arndale Centre to the new offices in the centre of Leeds.
Insurance broker moves into Cardiff offices.
Willis has taken on new office space in Cardiff’s Callaghan Square Business Park giving the company a new home for 20 associates in the Welsh capital.
The insurance broker has agreed a deal to lease 3,300 square foot of office space in the on the sixth floor of 5 Callaghan Square which overlooks the city centre.
Moving into new commercial property in Cardiff gives the company access to another new market, adding to the portfolio of 200 offices have in 120 countries.
An Azerbaijani Private Equity firm has purchased London office space.
United Enterprises International have agreed to buy offices in Westminster, marking the first foray into the UK office market for the Azerbaijan company.
Azerbaijan’s Private Equity House has acquired commercial property at 2 Queen Anne’s Gate in SW1 which overlooks St James’s Park, after purchasing the offices from a French pension fund who had been there.
The majority of the property’s 9,200 square foot of office space will be utilised by UEI, with the remainder looked after as part of a larger investment.
Battersea Power Station to be turned into office space.
The government has agreed to plans which will see one of London‘s most iconic landmarks be turned into a mixture of residential and commercial properties.
Despite its unique ‘upside down table’ design, the building has remained unused for 28 years since closing and has stood derelict on site.
Irish millionaires Richard Barrett and John Ronan who own the property through their Jersey-based firm are now trying to raise funds to convert the site.
Bruntwood has leased out the remaining office space in a Mancunian commercial property.
Financial services firm Isis has taken up office space in the Exchange Building in Manchester, which has resulted in the office site being filled.
Isis took on 1,489 square feet of office space thereby filling the 32,000 square feet of office space in the building which is situated on New York Street.
The news makes good reading for property managers Bruntwood who recently posted positive results in their annual report.
New offices are set to be created in the centre of Leeds.
Leeds City centre is looking forward to new offices being created after a major commercial property development deal was signed for the west side of the city.
BAM Properties has gained planning permission to build a seven-storey office block which will include 115,000 square foot of office space.
A possible occupier has already been sought out and BAM have confirmed that they will be offering the office space out in the building on a pre-let basis.