Edinburgh Office Markets- Spring 2008

Published: March 2008
Source/Company: Colliers CRE

Abstract:
• Total take-up in Edinburgh City Core (EH1-EH3) rose to 491,060 sq ft in 2007.
This represents a rise of 88% on the 2006 figure.

• The largest recorded transaction in 2007 was the 61,923 sq ft letting to HBOS
at 1 Lochrin Square. It was Edinburgh’s largest letting since 2003.

• Central Edinburgh availability has fallen by 3.3%, although the City Core saw a drop
of 9.7% year on year.

• Prime rents rose by 7.5% in 2007 to reach £28.50 psf as forecast by Colliers CRE in the
Spring 2007 report. Edinburgh offices rental growth is forecast to outstrip the UK average
in 2008.

• A shortage of schemes completing in 2008 is expected to cause an increase in
pre-letting activity.