NEARLY 20,000 sq ft of office space is set to become available in Edinburgh city centre as a £5.5m refurbishment project nears completion.
The first phase at Exchange Place 2, in the city’s Exchange District, is due for completion in November, with work on a second phase due to begin next year.
The refurbishment is targeting an ‘A’ Energy Performance Certificate rating and includes a new reception area, wellbeing hub, 80 cycle racks and a bike repair station.
Toby Withall, partner at Knight Frank Edinburgh, said: “Exchange Place 2’s refurbishment provides much-needed, high-quality office space in Edinburgh city centre.
“With demand for Grade A space continuing to outweigh supply, Exchange Place 2 will bring a welcome boost to occupiers looking for quality accommodation in central Edinburgh.”
The second phase is scheduled to begin in 2027 and is expected to be completed by next summer, providing an additional 38,000 sq ft of Grade A office space across the building’s upper four floors.
Figures from Knight Frank suggest Grade A vacancy in Edinburgh city centre is currently 2.7%, with limited additional space in the pipeline to meet potential demand.
Neil McConnachie, managing partner at EYCO, said: “With 57,882 sq ft of Grade A space available over the next 12 months in floorplates ranging from 5,269 sq ft to 10,297 sq ft, we will be well placed to meet the demand of all occupiers.”
