Edinburgh office rent rises unlikely this year, says expert

Office rents should remain steady in Edinburgh during 2010, according to a commercial property analyst.

Article posted: 19 Jan 2011

A commercial property expert has said companies will not pay significantly more to rent offices in Edinburgh this year.

Peter I'Anson, offices partner at property firm Ryden, told the Scotsman he does not foresee substantial rent growth for business premises in the capital until 2012.

"Through 2011, rents will remain the same and rent-free periods toward the end of 2011 may reduce slightly," he commented.

"We are unlikely to see any growth before 2012."

Mr I'Anson said the average rent for Grade A office space in Edinburgh currently stands at £27 per sq ft.

He described the performance of the city's commercial property market in 2010 as "patchy", but noted that large deals involving Tesco and Baillie Gifford helped to boost take-up levels.

Wealth management firm Quilter recently launched a new branch in Edinburgh to operate alongside its established base in Glasgow, marking its second new office opening in the last 12 months.

Posted by Aree