Nearly 1m sq ft of office space was let in a bumper year for the Edinburgh office market, with disposals up by 13%. Alexander Peace reports
JLL kept a firm hold on the top spot in the Edinburgh office league table for the second year, seeing off competition from an ascendant Montagu Evans in a cracking 12 months.
According to EGi’s league table, JLL acted on 42 deals totalling 334,613 sq ft, a 58% rise on the year before, though that will not make second place any easier for Montagu Evans. Its 286,414 sq ft would have won it the top spot last year.
With CBRE in third, that left locals Cuthbert White and Eric Young & Co to round out the top five – pushing out DTZ and C&W – an excellent result for Eric Young & Co, which failed to make the top 10 last year.
Total space disposed of:
955,660 sq ft
13% up on 845,331 sq ft last year
Average deal size:
5,194 sq ft
14.9% up on 4,520 sq ft last year
Take-up:
Top 10 agents accounted for 92%
Up from 79% last year
Total number of deals:
1.6% down on 2015
Largest deals
Quartermile Four on Lauriston Place had the year’s two largest lettings: the 70,000 and 59,000 sq ft prelets to Cirrus Logic and FanDuel respectively.
For both, CBRE and Montagu Evans acted for the landlord, JLL and Eric Young & Co acted for the tenants.
Going up
Montagu Evans and CBRE
Rising from sixth and eighth place respectively to second and third. Both managed to increase take-up by more than two and half times.
Going down
Cushman & Wakefield
DTZ and C&W combined last year acted on 176,000 sq ft of space and took fourth and fifth places.
This year the merged firm slipped to eighth place and disposed of 79,000 sq ft – a 55% fall.
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