A trio of financial occupiers has committed to 150,000 sq ft in Edinburgh city centre.
Private equity company State Street Investors is negotiating with Standard Life on 65,000 sq ft at 1-7 Exchange Crescent, for its new headquarters in the Scottish capital.
It is understood that the company will shift its 850 employees from its home in Corpus Sireo’s 525 Ferry Road, in Crewe Toll – which acts as the bank’s European hub – to the new site on a 15-year lease. Rents at Exchange Crescent are around £22 per sq ft.
State Street instructed Cushman & Wakefield to review options in light of a lease expiry in 2018.
The Boston-headquartered firm, which is listed on the New York Stock Exchange, set up in Edinburgh in 1998 with 40 staff.
Aberdeen Asset Management is in talks to let 10 George Street, owned by Danish fund, KP which is being advised by Cushman & Wakefield. Aberdeen appointed Ryden to seek sites for its 60,000 sq ft requirement and presently occupies almost 90,000 sq ft in Edinburgh in 40 Princes Street and 60 Morrison Street, with around 800 staff.
Aberdeen has an upcoming lease expiries in 2018 at Princes Street and in 2021 on Morrison Street.
EY is under offer on around 30,000 sq ft at Deka Immobilien’s Atria scheme. Rents on the building are around £29.50 per sq ft. The company is moving from 10 George Street where it occupies around 35,000 sq ft.
CBRE and Savills are the letting agents on Atria; Cushman & Wakefield advised EY.
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