BAM Properties and Hermes Investment Management have secured Brodies LLP as the first occupier at Capital Square, Edinburgh’s largest speculative office development.
Brodies, Scotland’s largest law firm, has agreed to take 43,174 sq ft across the top three floors of the eight storey development. A further 79,033 sq ft remains available to let.
Capital Square, designed by architects Hurd Rolland, is located within the Exchange business district between Morrison Street and Lothian Road.
Work on the building has started and is scheduled for completion in May 2020. Once completed, the building is set to have a BREEAM Excellent rating and an EPC A rating. It will include an “extensive suite of additional tenant services”, alongside 24-hour manned security and shower and locker facilities.
BAM Properties said the development “will go some way” to address the lack of available grade-A space in Edinburgh.
Dougie Peters, managing director at BAM Properties, said: “We were confident the market was right for a speculative investment of this scale and are delighted to welcome Brodies as our first occupier at Capital Square.
“There is an element of history repeating itself as Brodies was also our first occupier in our previous development at 110 Queen Street, Glasgow.”
Ian Cody, director of asset management at Hermes Investment Management, added: “As Scotland’s largest law firm, Brodies is exactly the type of occupier we were targeting for Capital Square, which is testament to BAM Properties’ work so far in positioning the property.
“This would also not have been possible without the assistance of our fellow landowner and partner, the City of Edinburgh Council.”
CBRE and Montagu Evans represented BAM Properties and Hermes Investment Management.
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