Buccleuch Property has achieved the highest occupancy levels in three years for its Edinburgh city centre portfolio, with 97% of its diverse range of office and industrial space now let following a number of recent deals.
With 14,000 sq ft of its Edinburgh investments now occupied with ten deals completed in the last twelve months, Cameron MacKay, associate director of Buccleuch Property believes the recent transactions reflect the growing number of small businesses in the capital.
“As the economy begins to move out of the recession, we are seeing more companies taking advantage of the flexible leases we offer on our properties, which are perfect for new start-ups and shows there are finally signs of some green shoots beginning to appear.”
Broompark Industrial Estate in Granton has been a particular success story, where CKD Galbraith achieved six new lettings this year, totalling 4,000 sq ft, leaving only one of the 26 800 sq ft units vacant. The properties have proven popular with local food and drink firms including caterers Appetite Direct and Eat Love; along with craft soft drinks company Roots Soda.
Other successful transactions in the city include Norton Park in the city’s Easter Road area, where the firm has let 6,000 sq ft of office space to Global Foods and a 1500 sq ft unit at West Bowling Green Street has been let to luggage retailer Brand Agility.
On its own doorstep at Silvermills Court, where Buccleuch Property is headquartered, the last 2,500 sq ft office suite in this quiet courtyard setting behind Henderson Row has recently been let to Opal Computing Services. This now brings the property back to full occupancy, with eight businesses now operating out of the overall building including Scottish fashion retailers Ness and ‘morph-suits’ pioneers AFG Media who moved in last November.