Progress is being made with the new office development at Capital Square which is now Edinburgh’s largest speculative office building. This is the only new space which is due to be completed next year and the topping out ceremony was held recently.
The new building designed by Hurd Rolland has already attracted two new blue-chip tenants Brodies LLP who will take the top three floors relocating from Atholl Crescent and Pinsent Masons LLP who will lease 25,300 square feet.
BAM Construction are in charge of the 122,500 square feet project creating eight floors of open plan offices. There is a private courtyard for dropping off and picking up as well as landscaped gardens. In an effort to encourage cyclists and runners there will be shower accommodation and locker facilities. 110 car parking spaces are part of the development.
The Rt Hon Lord Provost of the City of Edinburgh, Frank Ross, said: “Edinburgh is an internationally renowned business location and demand for office space remains high. It is vital, then, that we continue to build new, high-grade office space to ensure that the future needs of Edinburgh businesses are met.
“I’m pleased that the Council has been able to work closely with BAM Properties and Hermes to help realise the potential of this prime site in the Exchange business district. In doing so, the new Capital Square will create a great opportunity for jobs and the sustainable growth of the local economy.”
Dougie Peters, Managing Director, BAM Properties, added: “It’s an exciting milestone for Edinburgh as the city has had a shortage of speculative Grade A accommodation for the last few years which it needs to remain competitive with other UK cities.
“Capital Square’s unrivalled location has undoubtedly been a major factor in attracting two of Scotland’s most prestigious law firms, both of whom are expanding, and need a quality environment surrounded by terrific amenities to support their staff.”
Matthew Chillingworth, Investment Manager at Hermes Investment Management, added: “Progress at Capital Square has been progressing well with this topping out marking an important milestone for us and our fellow landowner and partner, The City of Edinburgh Council, which has been key to unlocking this development. The new tenants, Brodies and Pinsent Masons, will be well placed to take full advantage of this landmark building’s city centre location, excellent sustainability credentials and prime working environment.”