Property consultancy Jones Lang LaSalle said prime office rents in Edinburgh are set to rise by as much as 7% and reach the record level of £ 31 (EUR 46) per square foot next year, as the supply of grade A office space dries up in the Scottish capital.
Property consultancy Jones Lang LaSalle said prime office rents in Edinburgh are set to rise by as much as 7% and reach the record level of £ 31 (EUR 46) per square foot next year, as the supply of grade A office space dries up in the Scottish capital.
The number of lettings for office space over 10,000 square feet (1,000 m2) is already on track at the end of the second quarter to exceed total lettings for full-year 2007. Last year saw a total of eight deals for office space of over 10,000 square feet, while five deals have been closed already this year, with another four in the pipeline, Jones Lang LaSalle said.
The firm added that even after the office rent hike, the Scottish capital will still lag levels in Birmingham and Manchester, where rents are set to rise to £ 32.50 per square foot in the next year.
