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Monday, May 12, 2023

Edinburgh's Quartermile attracts Morton Fraser

Gladedale Capital's flagship Quartermile development in Edinburgh continues to attract tenants with the announcement that top rated legal firm Morton Fraser have pre-let four floors at the new office building being constructed on site.

Earlier this year, construction commenced on the 52,500 sq ft, six storey office development, which will further bolster the new business district being created at Quartermile. The Quartermile Two building will also include around 7000 sq ft of retail and restaurant accommodation at ground floor level, which is scheduled to complete in October 2009.

Morton Fraser has signed a deal to lease the top four floors of the building. The firm, which employs over 260 staff throughout the UK, has signed a 15-year lease for 36,178 sq ft and will be relocating its Edinburgh office to Quartermile from its existing base in Queen Street.

Colin Macpherson, Director at Gladedale Capital, said: "We are delighted to have attracted another blue-chip tenant such as Morton Fraser to Quartermile.

"The company's early decision to locate to Quartermile re-emphasises the project's growing reputation as the prime office destination within Edinburgh

"This leaves us with just over 16,000 sq ft of office space remaining in the building, in addition to the ground floor retail opportunities, for which we are already seeing significant interest."

Linda Urquhart, Chief Executive of Morton Fraser said: "We are delighted to be announcing our move to Quartermile, which marks the latest stage in the firm's expansion resulting from increasing client demand for our services.

"Over the past four years, we have grown significantly in Edinburgh, and opened new offices in Glasgow and London only to see them increase in size well in advance of our expectations, so this move for our Edinburgh team to new purpose-built premises at Quartermile marks another significant milestone for Morton Fraser. We also expect to be making an announcement about expanding our Glasgow office in the very near future.

"We represent some of Scotland and the UK's largest public and private sector organisations, as well as delivering award winning services for our private clients, so it's important for us to have a high quality modern base where our clients will have access to an even better quality of service, and where they and our staff will be comfortable doing business."

The building will form the eastern edge of Quartermile Square at the heart of the development, which will also feature a boutique hotel created from two B listed buildings originally created by architect Sydney Mitchell and Wilson.

CB Richard Ellis and Montagu Evans acted on behalf of Gladedale Capital, while Cushman & Wakefield represented Morton Fraser.