Watson Wyatt signs for Gladedale jv’s Edinburgh scheme

Financial services company Watson Wyatt has signed for space at Gladedale Capital and Scotmid’s Lochrin Square development in Edinburgh.   The firm has leased the entire 7,150 sq ft first floor at No 2 Lochrin Square, paying £27.50 per sq ft.   It means the building, in the Fountainbridge area of the city, is 80% let, with 6,000 sq ft on the ground floor remaining.   David Robinson, development director at Gladedale, said: “This letting demonstrates that there is a strong market out there for quality product in the right location. There is a huge lack of quality office space in prime locations around Edinburgh and Lochrin Square is helping to fill this gap.”   Lochrin Square is the £50m redevelopment of the former Scotmid corporate HQ and comprises two office buildings of 63,710 sq ft and 32,900 sq ft.   DTZ Debenham Tie Leung and Ryden are joint letting agents for the office element of the scheme. DTZ is sole agent on the restaurant space.   Credit Suisse Asset Management is forward funding the development.   david.quinn@rbi.co.uk