OFFICE take-up in Glasgow was the highest since the start of 2020 while Edinburgh city centre saw the largest number of deals since 2018, figures for the second quarter show.
Total take-up during Q2 in Glasgow city centre was 142,821 sq ft – down 13 per cent on the 10-year average, and Edinburgh city centre take-up amounted to 137,705 sq ft, down on the 10-year average by 4%, real estate advisor Avison Young said.
The largest deal of the quarter in Glasgow was 35,787 sq ft to Instant Managed Offices Ltd c/o DWP at 200 Renfield Street, while BNP Paribas took the 20,700 sq ft first floor of 177 Bothwell Street.
The top floor of Cadworks, covering 10,000 sq ft, is under offer and 20,000 sq ft is under offer at 2 Atlantic Square. Paul Broad, director at Avison Young Glasgow, said that “there is a clear appetite to reshape and reconfigure office occupation in the city”.
The largest deal of the quarter in Edinburgh was an assignment to fintech company FNZ of 20 West Register Street from Baillie Gifford. and the Nursing and Midwifery Council took 11,353 sq ft at 10 George Street.
Peter Fraser, Avison Young Edinburgh director, said: “While the public sector has been the most active sector so far this year, it’s clear that the private sector is on the move too.”
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