Offices prove popular
Lochrin Square fully let after latest tenant lettings
Lochrin Square development has attracted tech tenants
Fountainbridge office development Lochrin Square is now fully occupied after the completion of two lettings.
Brand protection consultancy, arc-net, has taken 1,300 sq. ft at 2 Lochrin Square, while software company Perivan Technology has expanded its presence in the building by relocating to a larger suite of 1,800 sq. ft.
The lettings also mean that the wider Lochrin Square office development, comprising of both 1 and 2 Lochrin Square, is now fully let.
Relaunched in March 2017 by UBS Asset Management on behalf of the owner, 1 Lochrin Square went through an extensive ‘defurbishment’ – a stripped-back attic-style of design – to appeal to Edinburgh’s burgeoning tech community. 2 Lochrin Square underwent a similar revamp less than 12 months ago, with significant investment in the refurbishment of its entrance and reception.
The lettings come as the transformation of Edinburgh’s Fountainbridge continues, with more new office buildings set to be delivered over the next 24 months.
Simon Capaldi, office agency partner at Knight Frank, said: “2 Lochrin Square has filled up quickly on the back of the work conducted on the building. The entire Lochrin Square scheme has proved very popular with tenants – particularly tech occupiers – which is testament to the success of the investment that has gone into the buildings over the past few years.
“In a wider sense, Lochrin Square has been pivotal to the dramatic changes Fountainbridge has undergone in the past 10 years – particularly the last two or three. There is a real buzz about the area, with a vast improvement in levels of activity. Local shops and restaurants are seeing the benefits of increased footfall from new tenants and growing businesses nearby, as well as the higher volume of students.
“There are a good number of schemes underway and in the pipeline, which will enhance Fountainbridge’s status as a tech corridor and its growing reputation as a location for businesses in Edinburgh.”
Craig Watson, office agency director at JLL, added: “There is a real focus for tenants on fully refurbished office suites due to the lack of choice and shortage of stock across central Edinburgh.
“Fully refurbished options are now proven to let quickest in our market so there are significant opportunities and shorter voids for landlords who speculate and invest in their office buildings.”