Ex-stock exchange offices secure new tenants
39 George Street: former stock exchange office
Crown Estate offices in the centre of Edinburgh that were briefly the head office of the failed Scottish Stock Exchange project have been re-let to two companies.
Bourse Scot, which was behind plans to launch a Scottish Stock Exchange, signed a four-year lease in 2019 for 7,800 sq. ft (725 sq. m) over two floors at 39 George Street.
However, after months of allegedly receiving no rent, Crown Estate Scotland, which manages property on behalf of the Queen, was forced to seek an eviction order.
The property has now been let to a medical technology startup and an unsecured loans company.
TestCard has secured 5,178 sq ft on the second floor with plans to have staff in place when Covid restrictions are lifted.
The company will create 25 jobs between Edinburgh and Scarborough by the end of this year after securing £4.5m to develop a medical testing app which people can access via their mobile phone.
Everyday Loans, the UK’s largest branch-based lender of unsecured loans, has signed up for 1,597 sq ft on the third floor and has recently moved in.
Fiona Simpson of Crown Estate Scotland said: “In these uncertain times we’ve been keen to offer occupiers optimum flexibility in lease structure and are delighted this has helped attract TestCard and Everyday Loans to 39 George Street.”
Adam Watt of Cushman & Wakefield, who advised Crown Estate Scotland on the lettings jointly with JLL, added: “Crown Estate Scotland has taken a very progressive approach to delivering occupiers flexible lease structures and this has been critical in helping secure two new lettings in a rapidly evolving market.”