Highcross Strategic Advisors has secured the firm as the latest tenant at its Sugar Bond development in Leith. The move means L’Arche will take on 2,500 sq ft at the 17,663 sq ft office centre to act as its new Edinburgh headquarters. The charity has signed a 10 year FRI lease with a break at year 5. L’Arche operates in 30 countries and works hard to create a community for people with learning disabilities as well as those who live with/support them.
It’s believed the firm were spurred on to take office space in the centre following a reduction in rent to just £7.50 per sq ft. The firm’s new space is fully furnished and offers great modern amenities.
“We are pleased to have found new office space that could be tailored to our needs and is fully wheelchair accessible. Next year will be the 20th anniversary of L’Arche working in the historic Leith area of Edinburgh and we have plans to expand the work we do with adults with learning disabilities. It is fitting that we will do so from a new office that retains our strong roots with Leith,” commented John Redwood of L’Arche.
The Sugar Bond is one of two former warehouses which have been recently redeveloped by Highcross. Bonnington Bond is also located in Leith and offers tenants spacious, modern office space in an attractive location.
The deal marks another positive prospect for the Edinburgh office space market which is said to be showing “welcoming signs” of stabilising following the recession. Recent lettings in the area, such as the new call centre for H&M, meant tenant lettings in the city totalled 153,000 sq ft in 2010 Q2 according to Jones Lang LaSalle – a significant increase from 2010 Q1.