THE Edinburgh office market performed strongly in 2018, with take-up of space exceeding the 10-year annual average and the availability of accommodation continuing to decline, a survey shows.

Property adviser Cushman & Wakefield said take-up of office space in Edinburgh totalled 855,000 sq ft last year. Although this exceeded the 10-year annual average for the fourth year running, it was adrift of the record take-up of 1.05 million sq ft in 2017

Cushman & Wakefield said that notable deals in Edinburgh in 2018 included fund management house Baillie Gifford acquiring 60,000 sq ft at property developer Chris Stewart Group’s 20 West Register Street, and life and pensions provider Royal London taking 47,000 sq ft from insurer Aviva at 22 Haymarket Yards. The property adviser also cited Diageo’s pre-letting of 44,000 sq ft at BMO’s 11/12 Lochside Place property at Edinburgh Park, and law firm Brodies’ securing of 43,000 sq ft at the new development by BAM and Hermes at Capital Square.

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Cushman & Wakefield associate Stewart McMillan said: “The Edinburgh market has delivered another robust performance in 2018. The record result in 2017 was underpinned by several exceptional large lettings, and for the market to back this up again in 2018 demonstrates continued occupier confidence in the city as a place to do business.”

He added: “It is of note that much of the activity was established businesses expanding their operations or improving the quality of their space, and this investment bodes well for the future economic health of the city.’’