Office take-up in Edinburgh rocketed by 73% year-on-year to 55,000 m[sup]2[/sup] in the first half of 2007, according to the latest research from Jones Lang LaSalle. Total take-up for the second quarter came to 37,000 m2, doubling the level of take-up in the first quarter.

Office take-up in Edinburgh rocketed by 73% year-on-year to 55,000 m2 in the first half of 2007, according to the latest research from Jones Lang LaSalle. Total take-up for the second quarter came to 37,000 m2, doubling the level of take-up in the first quarter.

'Strong demand being driven by strong business confidence, corporate profitability and increasing employment levels are increasing the requirement for office space in the city and squeezing supply. Rents are continuing their upward rise and we expect this to continue as substantial increases in net absorption are causing vacancy rates to drop further,' said Ben Reed, director of JLL Edinburgh.

The largest deal was the sale of the former Standard Life offices at Tanfield to Bellhouse Joseph and Carlyle Group, according to the global property advisor. 'Even though the sizeable disposal of Tanfield to a developer helped boost the figures, the trend for occupier activity is still clearly showing an upward movement.' He said total take up for offices for 2006 was approximately 63,130 m2. Based on these half year results JLL is predicting a stronger take up in Edinburgh for 2007, particularly in view of the number of deals which are currently being processed by lawyers.

The number of lettings for office space over 1,000 m2 for 2007 has already surpassed the total previous year's figures with five lettings between 1001 - 2000 m2 occurring in the second quarter. 'This is in growing recognition that the supply of good quality space is diminishing and we firmly expect this to continue over the next six months as we deal with a much broader base of active sectors', Reed added.