IT firm LogicNow is to relocate from Hanover Street to new offices in Edinburgh’s Exchange Crescent following expansion of the business.
The provider of integrated IT service management platforms has signed a five year lease to occupy 13,918 sq ft of Grade A space at a rental of £24 per sq ft.
A creative fit-out devised by JLL includes a dedicated games room, large café-style break-out space, architecturally inspired lighting scheme, and bespoke furniture.
JLL director Craig Watson said: “This move is further evidence of the continued expansion of technology sector companies in Edinburgh. It’s great to see a tech company acquiring space in The Exchange district, which is traditionally host to financial organisations.”
Elsewhere in Edinburgh, the Law Society of Scotland, the professional body of Scottish solicitors, has confirmed it will be moving to Atria Edinburgh later this year, taking 19,000 sq ft on a 15 year lease.
This too marks a radical move – the organisation has been in its current Drumsheugh Gardens offices for 47 years. JLL provided advice to the tenant, with Montagu Evans acting for landlord Edinburgh Council.
GVA associate director Peter Fraser said there was a tightening of supply in the city centre, not helped by conversion of many offices to other uses: “Larger floor plates are becoming sparse as various speculative schemes under construction are gaining interest. Marketing for pre-lets is actively underway at New Waverley, with construction progressing on the new Quartermile and Haymarket sites.”
Going for a spin at Axis
A major land deal at Newbridge, outside Edinburgh, will pave the way for two new car showrooms.Glasgow-based Paradigm Property Consultants have sold a three acre site at Axis Park to Eastern Motor Group (EMG) for £2m.
The deal for landowners PREM Rooster ll means the go-ahead for plans to erect a 24,000 sq ft double franchise development trading as Nissan and Mazda. The new facility will sit alongside the group’s existing marques, which include Lexus, Toyota, BMW, Mini and VW, with a Land Rover dealership next door and EMG’S Mercedes directly opposite.
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