Capital Square to go ahead
BAM signed up to develop prime city offices
Capital Square will have 122,000 sq ft of space over eight floors in the city’s Exchange business district.
BAM will start work this month and the development expected to be ready for occupancy in early 2020.
Hermes Investment Management, in association with Parlison Properties, secured planning approval in 2015 and Parlison will continue as development consultant.
Designed by architects Hurd Rolland, the building will feature a glazed curtain-walling facade, double-height reception with a statement atrium, and a courtyard entrance, set within a private south-facing landscaped garden. The property will also have rooftop terraces.
In keeping with its Grade A status, Capital Square will comply with the highest environmental standards.
Dougie Peters, managing director, BAM Properties, said: “BAM has a successful track record of identifying when the market is right for investment. We believe now is the time.
“We are confident in the Edinburgh office market and the Edinburgh economy generally. The city continues to suffer from a lack of Grade A supply with strong demand from occupiers for new space.
“We have a great partner and project team in place providing us with all the right ingredients to undertake a speculative development of this quality.”
Chris Taylor, head of private markets at Hermes Investment Management, added: “As our fellow landowner and our partner, we would not be at this stage in the development’s evolution without the assistance of the City of Edinburgh Council.
“The largest speculative office development at present in Edinburgh, Capital Square…meets ongoing strong occupier demand.”
Montagu Evans and CBRE have been appointed as joint letting agents.