Link Orthopaedics UK Ltd, a medical device company, has expanded its presence in Edinburgh by taking almost 10,000 sq. ft. of office and industrial space at a business park in the Gyle.
In a deal brokered by Knight Frank, the company has signed a 10-year lease at 4 South Gyle Crescent Lane, held in a Joint venture between Investcorp and Citivale.
Knight Frank acted on behalf of the landlord, achieving a rental of £8.50 per sq. ft.
The deal means South Gyle Crescent Lane – which consists of 39,375 sq. ft. of office, retail, and industrial space – is now fully occupied.
Featuring a number of hybrid units – buildings which incorporate a mixture of spaces in one building – the business park’s current tenants include Freeze Pro Shop, World Courier, and Metro Broadcast.
Simon Capaldi, Office Agency Partner at Knight Frank Edinburgh, said: “The Gyle is a sought-after location for industrial occupiers – it offers great access to the road network and Edinburgh Airport. The rent is a new high for the area, which reflects the level of demand for quality space. This was also influenced by the hybrid profile of the property – with office and storage space under a single roof – which is a rarity in Edinburgh. It underlines the case for well-placed space that matches tenants’ needs.”
Jim Malcolm at Link UK added: “We were looking for a property which would facilitate our growth in the UK and the property at South Gyle Lane Crescent will support those ambitions. The combination of office and storage space is hard to come by in Edinburgh, but is a good match for a business like Link UK and helps us to simplify our operations.”
Peter Evans at Citivale commented: “We are delighted with this new letting. It has meant the estate is now fully let, achieving a good headline rent. It has been a pleasure to work with both Knight Frank and Link Orthopaedics UK Ltd on this deal and we are confident the new tenant will continue to expand into its new premises.”