Construction work is underway at 2 Semple Street, the 45,000 sq ft office development which will be the next major building to complete in Edinburgh’s Exchange District.
The foundations and groundwork phase of the project is reaching completion and developers GSS Developments Ltd are working toward a May 2018 delivery.
With Grade A office stock in limited supply in Edinburgh city centre, GSS believe 2 Semple Street will fill a requirement for financial, legal or professional services firms, together with creative industries.
The office space over five floors could accommodate up to 400 employees and with views of Edinburgh Castle is situated in a prime location in the popular business Exchange District.
GSS Developments director Paul Stevenson, said: “With the construction of 2 Semple Street’s concrete core progressing and the structural steel frame being erected in the next couple of months we are delighted reach this next key stage of construction.
“With pressure on the supply of high-end office accommodation in central Edinburgh, 2 Semple Street will be an important addition to the city’s business infrastructure and it will be the only new Grade A offices in The Exchange, the city’s financial district, to be ready for occupancy in 2018.
“For occupiers who have lease expiries in 2018 and 2019 and are considering relocation, 2 Semple Street offers the absolute certainty of delivery by the middle of next year.”
Angela Lowe, senior director at joint agents CBRE, added: “In Q1 of this year there was a promising start to the take-up of Grade A office space in Edinburgh and with continued low levels of supply, the progress on 2 Semple Street is welcome news. It enjoys a prime location in The Exchange and allied to the fact there will be no other completions in 2018 it will appeal to a wide range of businesses.”
Chris Cuthbert, director at CuthbertWhite, added: “2 Semple Street is a highly attractive proposition and be of interest to businesses either looking for a floor or two, or indeed one occupier seeking control of their own building to include signage rights.”