First tenants occupy flexible workspace; tech unit sold
Clockwise: serving growth firms
The first tenants have moved into new flexible workspace in Leith which is providing 354 desks in 25,000 sq ft of offices in a refurbished former bonded warehouse.
The investment by Clockwise at Commercial Quay will deliver 60 office units with app firm Orders Made Simple and digitized car rental firm Nuvven among the first occupants.
Lesley Anne Jeffrey, regional manager at Clockwise, said: “Clockwise has a track record of success in other UK cities including Glasgow, Belfast – already catering to booming tech communities – and Liverpool, with a 96% average retention rate across the UK.
“We certainly expect to build on that success here. Our waterside location, in an area full of renowned food and drink hotspots, and thriving community and arts scene, make Leith an obvious spot to invest in a flexible workspace where businesses can grow, relocate, or open a new city base.”
Liz McAreavey, chief executive of Edinburgh Chamber of Commerce, said: “This welcome development highlights the important role of Leith as a hub supporting the growth of the creative and tech businesses in Edinburgh, providing much needed space for our exciting start-ups.”
Stephen Scurr, founder and CEO of Orders Made Simple, said: “Leith is an exciting, up and coming area and we wanted to become a part of its story.”
Edinburgh-based architects Morgan McDonnell is leading on the design and delivery of the development.
Tech building sold
HFD has sold the Reynolds Building at Scottish Enterprise Technology Park in East Kilbride to Glyn Watkin Jones 1999 Hybrid Settlement Trust in a £3.75 million deal.
The sale comes around 18 months post-completion of the base build of the 20,000 sq. ft., high-specification research and development unit. Construction began in September 2017 and was completed on time and on budget to a six-month programme.
Avison Young and Pinsent Masons acted for HFD, while Ryden and Shoosmiths represented Glyn Watkin Jones 1999 Hybrid Settlement Trust.