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Monday, April 21, 2023

Edinburgh's Apex almost at full

The popularity of the Apex 3 building at Edinburgh's Haymarket Station has again been emphasised with another new deal at the grade B office block.

In a deal structured by DTZ, Cyril Sweett has sublet 1,303 sq ft of the first floor to the Stewart Milne Group, one of the UK's leading privately owned housebuilders - which is establishing a commercial arm in the capital - at 21.50 per sq ft. This leaves just 3,000 sq ft of space available in the prominent building.

DTZ acted on behalf of construction and property consultants, Cyril Sweet last year to acquire the 5,267 sq ft first floor, with the firm set to expand 'significantly' over the coming years.

Peter Fraser, senior surveyor, DTZ, said it had been marketing the 'expansion space' specifically for short-term lets.

"The space was ideal for any business looking for a short-term lease basis in a good quality, Grade B office in the city with excellent communication links across the country.

"The latest letting now leaves only 3,200 sq ft available in the building and adds to argument that there is a shortage of grade B office accommodation in Edinburgh city centre."

Current tenants at Apex 3 include, EC Harris, Mapley and TMP worldwide.

DTZ acted on behalf of Cyril Sweett and Jones Lang LaSalle acted for the Stewart Milne Group. Landlord at Apex 3 is Apia Trust.