UK Office Space News

Administrator BDO Stoy Hayward have put Waverley Gate in Edinburgh onto the market for sale.

The prestigious office building houses 217,000 sq ft of office space in the Edinburgh city centre and expected to sell for £30 million. The building was a former General Post Office and was refurbished in 2005 by Castlemore, but last year went into administration.

Fashion retail H&M are poised to buy 16,500 sq ft of space for a call centre and Creative Scotland, a cultural agency, are looking to purchase 20,000 sq ft within the building.

In 2008 the building set a record rent when Microsoft took 13,000 sq ft at £31 per square foot.However it did not obtain anymore tenants until the collapse of Castlemore during the financial crisis, when rents were slashed to £15 per square foot at the building. Last month the NHS took 40,000 square foot there.

BDO Stoy Hayward are being represented by CB Richard Ellis and Montagu Evans.

Business-focused social media network LinkedIn is to base its international headquarters in Dublin.

LinkedIn will manage international expansion from the new headquarters, but will still keep the original and main HQ in California. They will give the area a plethora of new jobs, although they are yet to confirm exactly how many new jobs will be created. Kevin Eyres, managing director for LinkedIn Europe believes that Dublin will provide them with great access to a skilled workforce. (more…)

New developers are reported to be taking over the halted Belle Vue Mills development in Skipton, Yorkshire.

Changes in plans allowed the project to continue once more after a pause, now there will be more office space on the development rather than flats, as well as a change in leisure and retail use. Rushbond, a Leeds property firm are to complete the project with the previous owner Novo Homes. (more…)

European fund manager Ærium have bought 3 Hardman Street, Manchester for £183.5 million.

The development was sold by Allied London, who will continue to manage the property for Ærium. Ærium is based in Luxembourg, and run a UK based property fund called Glenn Arrow UK Property, which bought the development. (more…)

The planning application by Montpellier Estates for the new City One development in Leeds has been submitted.

The 10-acre site is to be situated near the southern entrances to Leeds. It is planned to  a mixed use development, comprising of Grade A office space, retail, hotels and a casino. Previously the site was planned to be the proposed Leeds Area back in 2008, however the plans were terminated in Leeds City Council. (more…)

Liverpool Vision is launching a brand new development opportunity in the city’s business district.

Liverpool Vision is Liverpool’s economic development company and they will be using the upcoming MIPIM conference to launch the project. Jim Gill, chief executive for Liverpool Vision and Chris Oglesby, chief executive for Bruntwood will be attending the MIPIM property fair and revealing the details of the Pall Mall Exchange development plans. Liverpool Vision believe the new development marks the next phase of major expansion in the business district of Liverpool. (more…)

A £30 million business park is to be built in East Edinburgh, it has been revealed.

The business park and hotel development, known as Lothian Park, will be situated at the eastern end of the Edinburgh City Bypass. Plans include three office space buildings provide a total of 64,000 sq ft of space and a 120-bedroom hotel in the convenient location of near Old Craighall Junction, the A1 and City Bypass.

Developers Lothian Park Ltd comprises of a new consortium of owners, they hope to balance out the locations of out-of-town business centres as there are a large number of them in the western side of Edinburgh and less in the east.It also offer a convenient location for commuters from that side of the surrounding area. Outline planning consent has been granted.

Head of the consortium of owners, Mike Rutterford commented, “There is major gap in the provision of premier business and leisure space at the eastern gateway to the city of Edinburgh, especially when you consider the large number of commuters living in East Lothian and the Borders.

“Queen Margaret University’s new campus nearby has helped to reinforce the location’s excellent accessibility, not only by private transport but also by numerous bus routes and an excellent rail service linking the city centre to the heart of East Lothian.

“We’re confident in finding partners to develop this site. Now is the time to develop so we are prepared with the right facilities in place for the return of a strong economy.”

As well as the new business centre, there will also be planning application made for other areas adjacent to the site. The development is currently marketed by CB Richard Ellis and Eric Young and Co.

New out-of-town developments will become more popular as the market for inner city office space continues to improve and being too competitive for some businesses. They offer a good value alternative to prime city-centre space and help staff avoid city problems such as congestion and parking, making life easier for both them and any clients that visit. Gone are the days of rickety and isolated offices in out-of-town industrial estates, out-of-city business centres are sleek, modern buildings with a wealth of facilities and great amenities  in the surrounding area.

Insurance group Admiral are considering building a brand new headquarters in Cardiff, Wales. If put into action it will be the biggest office space scheme in Cardiff.

Admiral are currently in talks regarding their requirements for office space in Cardiff, one of the options would be to build a brand new multi-million pound development comprising of 150,000 sq ft of office space. (more…)

BUPA International, the private health-care provider, have agreed terms on a major new office space lease in Brighton.

They have ended a slow period in the Brighton office space market by agreeing terms on 45,000 sq ft at Victory House, Trafalgar Place. BUPA have signed up to a 15-year lease for about £21.50 per sq ft, with  a 10-year break. (more…)

European digital media agency Milk, has opened new offices in Manchester.

The new office opening is the result of a  new public and private sector initiative which gives new investors 12 months free desk space. The joint venture was set up by the Northwest Regional Development Agency (NWDA), Manchester’s inward development agency MIDAS, Avant, Bruntwood, Orega and Manchester Science Park. (more…)