Edinburgh
Key stats
TOTAL TAKE-UP IN QUARTER (SQ FT)
+11% CHANGE ON LAST QUARTER
VACANCY RATE
+1BPS CHANGE ON LAST QUARTER
PRIME RENT PER SQ FT
0% QUARTERLY CHANGE
TAKE-UP (SQ FT)
Source: Avison Young
Take-up over Q2 2025 totalled 127,000 sq ft across the Edinburgh office market, rising 11% when compared to Q1 2025 but sitting 33% below the 10 year average.
Demand in Edinburgh is typically confined to floorplates under 25,000 sq ft given the nature of stock across the market, with large-standalone deals occasionally boosting take-up. Two such deals were seen over the quarter; the largest saw research firm Wood Mackenzie let 29,700 sq ft at Waverley Gate, whilst legal firm Addleshaw Goddard let the entirety of 24-25 St Andrew Square which completed earlier in the year.
Overall availability remains low with city centre vacancy rates remaining unchanged over the quarter at 5.8%. Whilst no new development is currently underway, 150,000 sq ft at Rosebury House is due to begin construction later this year.
Indeed, the restrained city centre development pipeline has ensured that prime rents remain high at £46.00 per sq ft, with further rental growth expected moving forward. Rent frees remain at 10 months for a 10 year lease.
NOTABLE DEALS
Source: Avison Young
TAKE-UP BY SECTOR
Source: Avison Young
ANNUAL TAKE-UP (SQ FT)
Source: Avison Young
AVAILABILITY (SQ FT)
Source: CoStar, Avison Young
DEVELOPMENT PIPELINE (SQ FT)
Source: Avison Young, PMA, Glenigan
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