Commercial Property News

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Tuesday, February 26, 2024

80% let at Inverness's Moray House

Ryden has secured two new tenants at Moray House in Bank Street, Inverness for clients The Premier Property Group Ltd. The detached four-storey riverside office block contains the only refurbished space in the city.

Management, engineering and development consultancy group Mott MacDonald has signed a 10-year lease for 3,264 sq ft on the second floor, giving them room to expand within the city centre. PMP Architecture, which has bases in Edinburgh and Glasgow, has taken 1,280 sq ft on the third floor at 17,920 per annum for five years to open a new office in the city.

Andrew Wilson, Associate at Ryden, said: "The lets demonstrate that professional services firms want to stay within the city centre and the rents achieved at Moray House are comparable to out of town business parks."

Paul Whitefoot, Senior Project Manager at Mott MacDonald, added: "We appreciate the environmental benefits of being in the city centre with many of our staff cycling to work and utilising the bus and train stations close by, providing the potential to significantly reduce our carbon footprint. At the same time the amenity of the city centre location is great for staff and there is ready availability of affordable car parking at the Rose Street multi-storey."

Mott MacDonald and PMP Architecture join other tenants The Highland Council, Provident Financial Services and The Highland & Western Isles Valuation Joint Board at Moray House; around 20% of the office block remains available to let.