CBRE announces letting at landmark office development in Edinburgh

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Leading property consultancy CBRE has announced it has let an entire floor of the landmark Edinburgh Quay 1 office development in the city’s prestigious Exchange District.

Freeagent, a growing UK provider of online accounting software, has taken the highly specified fifth floor suite, comprising 10,126 sq ft of premium office space, on a ten-year lease with a break option at year five. The company already occupies the 11,133 sq ft suite on the fourth floor, taking its total share of the building to 21,259 sq ft across two floors.

In addition to capacity for 120 work stations, the newly-let suite has a unique balcony offering striking views across Edinburgh to the Firth of Forth. An allocation of three spaces in the secure basement car park is also included in the lease.

Edinburgh Quay 1 enjoys a vibrant waterside location less than one mile from Princes Street, offering a full range of local amenities and excellent access by car and public transport. All office suites and communal areas, including reception, lift lobbies, lift cars and WC and shower facilities, have undergone a comprehensive refurbishment and upgrade to provide an exceptional level of finish and specification throughout.

Other office occupiers include STV, Clevermed, BTO Solicitors, Cushman & Wakefield and Saffery Champness, with retail units occupied by Swedish bar & restaurant Akva, American-themed bar & grill Badabing and Italian restaurant and pizzeria Zizzi. Seven of the eight floors have now been fully let, leaving just 7,651 sq ft of office space remaining on the third floor.

Beverley Mortimer, senior surveyor at CBRE, commented: “Positioned in the capital’s thriving Exchange District, Quay 1 offers first-rate facilities with excellent accessibility. The landlord has invested in revitalizing the retail and leisure mix with the establishment of the ‘foodie’ markets together with AKVA, Baddbing and Zizzi’s, providing an outstanding environment for office occupiers.

“It is great news that Freeagent has decided to sign the lease on a second suite, indicating a high level of tenant satisfaction. Whilst serviced by an outstanding range of local amenities, the nearby progression of three major developments, encompassing offices, a hotel, an aparthotel and residential accommodation, will only add to the vibrancy of the area and reinforce Quay 1’s standing as a landmark building in a highly desirable location.”

CBRE represented the landlord and EYCO acted for Freeagent.