GLOBAL insurance giant Marsh McLennan has been named as the first tenant for the 1 New Park Square office development at Edinburgh Park.

Parabola, which is developing what it describes as “the new city quarter” at Edinburgh Park, noted that negotiations between itself and Marsh McLennan had been “ongoing for the past year”.

Marsh McLennan has taken 10,000 sq ft for about 170 staff on the first floor on the new building, which was designed by Stirling-based architect Allford Hall Monaghan Morris, Parabola noted. The insurer is relocating operations from elsewhere in Edinburgh Park.

Parabola declared that the “innovative building” is “located by a new bustling civic square with neighbouring new sports and leisure facilities”.

It added that 1 New Park Square has an artisan bakery, café/bar-restaurant, and a live music venue that are run by Patina, which operates the Kiln Café at Ouseburn in Newcastle.

Parabola signalled other announcements about lettings for 1 New Park Square and the wider “new city quarter” would follow.

It said: “The first tenant is anticipated to herald further announcements by Parabola regarding 1NPS and other developments at the new quarter of the city, which is focused on wellbeing.”

Tony Hordon, managing director of Parabola, said: “Parabola is thrilled to confirm our first office tenant at 1 New Park Square. Following a meaningful journey and productive negotiations, we are pleased that Marsh McLennan shares our vision of what the office environment post-pandemic should look like – an unrivalled focus on wellbeing, an exceptional food and drink offering, live entertainment and the arts, as well as sports and leisure facilities… “The market barometer has definitely shifted significantly in recent months and it is clear that discerning tenants are looking for innovative office space with complementary facilities in well-connected locations.”

Marsh McLennan’s Laura Dewar, head of office for Marsh, said: “Marsh McLennan is delighted to confirm our move to Parabola’s 1 New Park Square. We were struck by the commitment of the Parabola team to deliver a truly unique space which has the wellbeing of our colleagues at its core.

“The facilities in the building, its proximity to the airport and to the city centre via the tram system. and the smart, agile and collaborative environment we will create will provide our highly skilled professional colleagues with an environment which will better support our business and our clients.”