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Office deal

Vardy Foundation agrees terms on townhouse office

New tenant for 110 George Street

The Vardy Foundation, the charitable wing of car retailer Peter Vardy Ltd, is taking space in a townhouse at 110 George Street, Edinburgh.

The Foundation has signed a five-year lease on 1,445 sqft which will be occupied by a team of six staff.

Richard Vardy, a trustee of the Vardy Foundation said: “We wanted to find a suitable base for our expanding team.

“My father, Sir Peter, relocated [from northeast England] to Scotland and the head office of the charity is now in Edinburgh.”

Howard Crawshaw, managing director of Knight Property Group, which also has offices in the B-listed Georgian building, added: “We are continuing to see increasing levels of interest in the Edinburgh office market for prime city centre space and are confident of a strong recovery, as we start to emerge from the restrictions of the pandemic.

“The Vardy Foundation is a great addition to the occupier mix in this building.”

Hannah Done, senior surveyor of JLL, said: “The popularity of this type and size of fully-fitted office space in the heart of Edinburgh is particularly evident.”

The Vardy Foundation was created as a way to distribute 10% of the profits from family-owned car dealership Peter Vardy Limited, to support projects that improve the lives of vulnerable children and young people locally and abroad, through support, education and care.

It awards grants and works closely with charities and other non-profit organisations that support children and young people who are disadvantaged or face challenges in life.

Other occupiers in the building include Smart Energy, Cairngorm Capital Partners.

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