Austin-based tech firm Cirrus Logic is in exclusive talks to take the remaining space at M&G Real Estate’s and Moorfield’s Quartermile 4 office development in Edinburgh.
The audio circuit supplier is close to agreeing a deal for 70,000 sq ft on a 15-year lease. It is expected to pay close to £30 per sq ft.
The deal is a major boon for M&G and Moorfield following their decision last year to speculatively develop the 128,000 sq ft block.
The development is now fully let ahead of scheduled completion in April next year. It is also a sign of Edinburgh’s rapidly expanding tech industry, with the city now home to businesses including Skyscanner, photo sharing site Blipfoto and
film distribution platform Distrify.
Elsewhere in the city, HSBC is under offer to take 30,000 sq ft at Kennedy Wilson’s Oracle House on Edinburgh Park, on the outskirts of the city. It will sign a 10-year lease, paying around £19 per sq ft.
JLL advised Cirrus; CBRE and Montagu Evans are letting agents on Quartermile 4; JLL acted on behalf of Kennedy Wilson; CBRE represented HSBC.
