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Games company stays put

FanDuel scraps move to £50m Quartermile block

Quartermile 4

Quartermile 4: £50 block


Fantasy games company FanDuel has scrapped its move to Edinburgh’s Quartermile 4 building and has decided to let the space to other tenants.

The company, which is in the process of merging with US rival DraftKings, announced its relocation to the newly-built block last year.

It was due to take 40,000 sq ft in what was the city’s largest office pre-let in more than 10 years. FanDuel intended to take the top three floors in the £50m seven-storey block.

But the company, one of Scotland’s two unicorns – companies valued at $1billion – has now opted to stay put in its existing offices nearby.

The Foster & Partners development has emerged from the site of the former Royal Infirmary overlooking the Meadows and is a mix of high-end residential and commercial property.

Cirrus Logic, which acquired Wolfson Microelectronics, and Bank of Montreal are among tenants who have taken more space in Quartermile 4.

It is thought FanDuel had agreed a £30 per sq ft lease over 15 years, with a ten-year break clause.

German investor TRIUVA bought the Quartermile 4 building from Prudential Assurance for £68m towards the end of last year.

State Street Bank is in advanced talks to take Quartermile 3 which is under construction and will move the project closer to completion.

 

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