The number of office deals in
The agent said occupier take-up totalled approximately 153,000 sq ft including three transactions over 10,000 sq ft – the same number as recorded in the first quarter.
Significant deals included lettings to H&M for a new call centre, a letting to charity Chest, Heart & Stroke Scotland to relocate their head office and an assignation to Baillie Gifford.
There were also an encouraging number of lettings in west
The agent said the overall number of enquiries in Q2 corresponded with the same period last year.
It added that while the majority of activity remains below 5,000 sq ft, there were a greater number of requirements seeking space over 10,000 sq ft.
The agent reported that supply appears to have peaked in Q4 2009 and over the last two quarters there has been a gradual reduction in availability.
There are no other speculative developments due for completion in 2010, which is likely to add further pressure to the diminishing stock levels.
JLL associate director of agency, Craig Watson, said: “These figures demonstrate a degree of stability in the Edinburgh Office Market although the majority of activity, some 80%, is still focused at the smaller end, sub 5,000 sq ft.
“At present our half year figures are well ahead of the half year figures we saw last year, the number of deals has increased and general sentiment from occupiers appears to have improved.”
bridget.oconnell@estatesgazette.com
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