New development 100% let
Cirrus Logic takes four floors at Quartermile 4
It is taking 70,033 sq ft in Quartermile 4 which is under construction, and will join fantasy sports games company FanDuel as a tenant.
Built on the site of the former Royal Infirmary, the development is managed by Moorfield Group.
Cirrus Logic is a fabless semiconductor company headquartered in Austin, Texas. It will occupy four floors of the new building which will be completely let four months before completion in April.
The development is backed by an £80m funding deal secured with M&G Real Estate in June 2014 to speculatively develop the remaining two office buildings.
Paul Curran, managing director, said: “Achieving 100 per cent pre-letting of the building four months before practical completion is a remarkable achievement.”
He said the letting reflected the confidence that exists in Edinburgh’s commercial property market and the lack of Grade A office space in the city.
Quartermile Developments was represented by joint agents CBRE and Montagu Evans with legal advice provided by Brodies. M&G Real Estate was represented by law firm Maclay Murray & Spens.
The scheme is expected to be completed in 2018. Once concluded, it will provide Edinburgh with 1,050 apartments of which 629 are already occupied and another 176 currently being built, 370,000 sq ft of Grade A office accommodation, 65,000 sq ft of retail and leisure space and seven acres of open landscaping.
It will also provide a home for the University of Edinburgh’s new interdisciplinary hub that will unite business and public policy to address societal and environmental challenges.