US investment giant Blackrock is taking 140,000 sq ft at one of Standard Life’s former offices in Edinburgh.

The move is believed to be this year’s largest letting of existing office space outside of London.

The four-storey Dundas House in Brandon Street, Canonmills, is on the site of R&R Clark printworks, which was redeveloped in 1979 and refurbished by Standard Life in 2002.

Staff will move into the offices in early 2025, increasing BlackRock’s floorplate from 86,000 sq ft at Exchange Place, Semple Street, reflecting the asset manager’s plans for expansion in the local market.

Abrdn owns the building and the letting is understood to involve a lease surrender back to Abrdn and a new lease agreement between it and BlackRock.

Justine Anderson, EMEA chief operating officer at BlackRock, said in a statement: “As BlackRock’s first international office, Edinburgh has always been a critical part of our culture and success, and we’re looking forward to celebrating our 25th anniversary next year.

“There’s still a lot of work to be done to make our new offices state of the art but the new location offers us more space as we continue to invest in our Edinburgh-based talent.”

BlackRock engaged JLL in its office search. Savills and JLL advised Abrdn on leasing Dundas House.

Ben Reed, head of UK tenant representation at JLL, said: ‘‘The result was a single building of 140,000 sq ft, a rare commodity in the city centre, where supply remains tight. Once completed the offices shall provide a range of excellent amenities that will help support collaboration and talent acquisition.”

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