Edinburgh office space
March 18th, 2008 | by Simon Rattray |According to CB Richard Ellis, there is 2.4 million sq feet of office space available in Edinburgh.
This contrasts with news in other reports that there is a shortage of smaller office spaces in the capital. It seems that the take up of larger tenancies (more than 50,000 sq feet) has declined and that the vast majority of smaller office locations have been occupied, as reported by Choregus on 14/3/08.
Another problem is that much of the demand is for grade ‘B’ space which is suitable for SME’s who have smaller budgets. This is in short supply as developers tend to opt for grade ‘A’ space as it will generate more revenue if occupied. With the ongoing credit crunch and uncertainty in the economy, the chances of larger take-ups seem to be decreasing, despite Edinburgh’s office market performing well in the last year.
Subscribe to Choregus