New York-based investment manager BlackRock has made a surprise decision to move its Scottish headquarters to Exchange Place 1 at Fountainbridge in Edinburgh city centre. The group had been expected to settle its requirement at Atria, the 200,000 sq ft extension to the council’s Edinburgh International Convention Centre.
However, BlackRock is now in advanced negotiations with Scottish Widows Investment Partnership to take 80,000 sq ft at Exchange Place.
Rents in the 120,300 sq ft building are around £26-£27 per sq ft.
BlackRock will move from its current HQ at 40 Torphichen Street, which landlord IVG is selling for £14m through Jones Lang LaSalle.
CBRE is advising BlackRock; Cushman & Wakefield, Jones Lang LaSalle and Chris Cuthbert Property are acting for SWIP.
lisa.pilkington@estatesgazette.com
