Edinburgh’s Capital Square tops out
BAM Properties and fund manager Hermes Investment Management joined invited guests to celebrate the topping out of Edinburgh’s largest speculative office building.
Scheduled for completion in May 2020, Capital Square is the only new space due to complete in Edinburgh next year.
The Right Honourable Lord Lieutenant, Lord Provost of the City of Edinburgh, marked the closing stages of the structural frame construction by cementing in the final section of concrete.
Located within the Exchange business district, between Morrison Street and Lothian Road, Capital Square has already attracted two blue-chip occupiers, legal firms Brodies LLP and Pinsent Masons LLP.
Built by BAM Construction, the development features eight floors of modern open plan office space providing a total of 122,500sq ft of office accommodation, with only 54,000 sq ft remaining to be let. The unique office development has a private courtyard for dropping off and picking up, as well as landscaped gardens.
On completion, the Hurd Rolland-designed building will include concierge level front of house service, shower and locker facilities for cyclists and runners, 24-hour manned security and an extensive suite of additional tenant services. A 110 space public car park is also being created as part of the development.
Frank Ross said: “Edinburgh is an internationally renowned business location and demand for office space remains high. It is vital, then, that we continue to build new, high-grade office space to ensure that the future needs of Edinburgh businesses are met.
“I’m pleased that the council has been able to work closely with BAM Properties and Hermes to help realise the potential of this prime site in the Exchange business district.
“In doing so, the new Capital Square will create a great opportunity for jobs and the sustainable growth of the local economy.”
Dougie Peters, managing director, BAM Properties, added: “It’s an exciting milestone for Edinburgh as the city has had a shortage of speculative Grade A accommodation for the last few years which it needs to remain competitive with other UK cities.
“Capital Square’s unrivalled location has undoubtedly been a major factor in attracting two of Scotland’s most prestigious law firms, both of whom are expanding, and need a quality environment surrounded by terrific amenities to support their staff.”
Matthew Chillingworth, investment manager at Hermes Investment Management, added: “Progress at Capital Square has been progressing well with this topping out marking an important milestone for us and our fellow landowner and partner, The City of Edinburgh Council, which has been key to unlocking this development.
“The new tenants, Brodies and Pinsent Masons, will be well placed to take full advantage of this landmark building’s city centre location, excellent sustainability credentials and prime working environment.”