Tenants spreading their interest
Design firm’s move boosts ‘peripheral’ sites
HTA Design is relocating its Edinburgh office to Bridgeside House in Broughton in a deal seen as an indication of growing interest in peripheral office developments because of the shortage of suitable space in the city centre.
Relocating from Slaters Steps, the design agency, which specialises in architectural design, regeneration, landscape design, and planning, will occupy 3,699 sq. ft. of the refurbished development.
Bridgeside House, in McDonald Road, was redeveloped by J. Smart & Co and is also home to corporate travel company Colpitts World Travel.
HTA’s move was brokered by joint agents Knight Frank and Montagu Evans.
In the first ten months of 2016, availability of high quality office space in Edinburgh’s city centre has continued to diminish, while the supply of new-build accommodation has remained constrained.
Bridgeside House is one of a number of developments, completed or under way. Knight Frank said the lack of space, coupled with the pressure on rents in Edinburgh’s core, was making locations such as the city’s periphery and Leith a more attractive prospect to tenants.
Simon Capaldi, Associate at Knight Frank, said: “We’ve seen a number of recent deals in the periphery of the city centre because of the significant number of requirements for good quality, cost-effective, and open-plan office space.
“More deals are likely to follow if the market continues on its current trajectory, with an increased level of interest already being seen in the remaining 18,656 sq. ft. of available space at Bridgeside House.”