Edinburgh based estate agency Coulters has relocated its legal services team to 3 Lochside Way, Edinburgh Park following a recent merger with HBJ Property.
This is the second letting at 3 Lochside Way since the property was acquired by Drum Income Plus REIT Plc (DRIP REIT) in July 2016. Go For Finance, a fleet management company specialising in green vehicles, previously took 1,550 sq ft on the ground floor.
Coulters has acquired 2,027 sq ft of recently refurbished first floor office space on a ten year lease at 3 Lochside View. The newly refurbished building allows Coulters to expand from its Stockbridge HQ following the merger.
JLL acted for DRIP REIT, jointly with Knight Frank. The latest deals mean that 3 Lochside Way is now over 50% occupied, leaving just 3 vacant suites offering a combined total of 9,500 sq ft available within the building. Existing tenants include GL Industries Services UK Ltd and Exception Ltd.
Based in west Edinburgh, Edinburgh Park is Scotland’s largest business park – a 58 hectare development that is home to a range of occupiers. Edinburgh Park is easily accessible by road and public transport, and is just a short drive from Edinburgh airport.
Office space in Edinburgh is in high demand, with vacancy levels hitting a new low of 4.5 per cent in the first three months of 2017 according to JLL research.
Alastair Stang from JLL in Edinburgh, commented: “Edinburgh’s office market has seen strong demand through the last year, as a result we’ve seen vacancy levels hitting new lows in the first quarter of the year. We expect to see supply tighten further in 2017 throughout the city. Edinburgh Park is proving popular to occupiers for a combination of factors – better relative availability, competitive occupier costs, the quality of the business environment, and its accessibility with first class private and public transport links, including the tram network.”