There is a serious lack of suitable office space for small and medium-sized firms in the Scottish capital Edinburgh, according to research by consultancy DTZ.
There is a serious lack of suitable office space for small and medium-sized firms in the Scottish capital Edinburgh, according to research by consultancy DTZ.
Small and medium-sized firms (SMEs) lease office space in Grade B quality buildings, usually comprising open-plan accommodation and refurbishments. But since autumn 2007, DTZ has found the supply of city centre Grade B office space has declined by a 'staggering' 29%, creating a bottleneck for SMEs looking to expand.
'In some ways the city is a victim of its own success. While SMEs have underpinned Edinburgh’s growth, we are now facing the problem of not being able to accommodate this growth and the effect is this lucrative market is being stifled,' DTZ economist Richard Marsh said.
