UK Office Space News

Edinburgh has a healthy office sector according to a survey by DTZ.

Edinburgh commercial property had a good year with a 20% higher take up in office space throughout 2010 compared with 2009 take up rates according to a report by property experts DTZ.

The report also states that the success relates to firms taking on more office space in the city and is based on the Scottish capital’s relative economic prosperity.

While the city saw office take up rise to 20% in 2010 as opposed to 2009 levels, Edinburgh is still 10% down on the ten year average.

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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.