Parabola welcomes first tenant to exemplary 1 New Park Square

Parabola, the award-winning developer of the new city quarter at Edinburgh Park, has confirmed its first tenant for the prestigious 1 New Park Square (1NPS) office development. The innovative building, located by a new bustling civic square with neighbouring new sports and leisure facilities and boasting renowned artworks in a parkland setting, has been selected by leading professional services firm Marsh McLennan as its new Edinburgh office.

The exemplary 1NPS was designed by Stirling-based prize-winning architects Allford Hall Monaghan Morris. With attention to wellbeing and sustainability, supported by outstanding amenity, 1NPS is home to an artisan bakery, café/bar-restaurant and live music venue which is run by Patina and has been brought to Edinburgh by the successful team behind Newcastle’s Kiln Café in Ouseburn.

1NPS also offers conference facilities in a stunning multifunctional venue which is transforming the Edinburgh’s west side, with an unrivalled all-day dining destination like no other.

Negotiations between Parabola and Marsh McLennan for the office space in 1NPS have been ongoing for the past year. The global firm has taken 10,000 sq ft on the first floor on the landmark building.

The first tenant is anticipated to herald further announcements by Parabola regarding 1NPS and other developments at the new quarter of the city which is focused on wellbeing. It is understood that this has been instrumental on Marsh McLennan’s relocation decision.

Commenting on the first letting, Tony Hordon, Managing Director of Parabola, said: “Parabola is thrilled to confirm our first office tenant at 1 New Park Square. Following a meaningful journey and productive negotiations we are pleased that Marsh McLennan shares our vision of what the office environment post-pandemic should look like – an unrivalled focus on wellbeing, an exceptional food and drink offering, live entertainment and the arts as well as sports and leisure facilities that are second to none.

“The market barometer has definitely shifted significantly in recent months and it is clear that discerning tenants are looking for innovative office space with complementary facilities in well-connected locations. This is why 1NPS is being actively considered by those that share our vision to provide their people – their biggest assets – with something to enhance their work-life balance.”

Marsh McLennan’s spokesperson Laura Dewar, Head of Office for Marsh, added: “Marsh McLennan is delighted to confirm our move to Parabola’s 1 New Park Square. We were struck by the commitment of the Parabola team to deliver a truly unique space which has the wellbeing of our colleagues at its core. 1NPS is a brand new, Net Zero Carbon office building designed to meet the highest levels of sustainability with a BREEAM Excellent rating and EPC A rating. The facilities in the building, its proximity to the airport and to the city centre via the tram system and the smart, agile and collaborative environment we will create will provide our highly skilled professional colleagues with an environment which will better support our business and our clients.”