BAILLIE Gifford, the fund manager, has shelved plans to move to a new landmark building in Edinburgh.
The company earlier signed a deal to pre-let 60,000 sq ft in the building now known as 20 West Register Street but previously called the Mint Building in St Andrew Square.
Baillie Gifford has confirmed it now intends to sub-let the building and not move any staff there.
Hines Pan-European Core Fund, one of Hines’ flagship funds, completed the acquisition of the building last year.
Hines agreed the forward purchase of the building from Edinburgh-based property development and investment company, Chris Stewart Group, in June 2018 in an off-market transaction pre-let on a 15-year lease.
The Hoskins Architects-designed building provides office space across seven levels.
A spokesman for Baillie Gifford said: “We decided to reassess our need for additional office space given the current circumstances and to avoid further disruption for our staff.”
The office space is being marketed through Ryden.
Baillie Gifford employs 1,317 people and has assets under management and advice of £198 billion.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here