What is One Lochrin Square? What's its history?
One Lochrin Square is a Grade A office refurbishment of 63,000 sqft. The building was initially developed in 2007 as a new-build embracing the former Scotmid headquarters. So it could be described as a part new-build, part period office building.
Around 35% of office take up in the capital currently comprises occupiers in the technology, media and telecoms (TMT) sector. The ground floor defurbishment has been undertaken specifically with them in mind.Toby Withall, Partner, Knight Frank
The property is listed. The Union Canal previously bordered the rear of the premises when at that time it terminated in the Port Hamilton basin. It now terminates at Edinburgh Quay off Fountainbridge. Until 2013, the property was fully let to HBOS. The building is currently being marketed following its recent refurbishment.
What refurb has taken place? Why is it significant?
The property has recently been extensively refurbished to provide Grade A office space over ground and three upper floors. The larger floors are around 15,000 sqft – some of the largest in the Edinburgh market.
The main reception at ground level was enlarged as part of the refurbishment and the ground floor office space has been “defurbished”. This has involved the services on the ceiling being exposed to appeal specifically to the tech sector – but also other operators seeking this kind of accommodation.
In the basement, the property owner and our client, UBS, has delivered a new shower block facility and secure bicycle parking. The project’s significance is that there’s very little grade A space available in Edinburgh city centre currently – and this building represents the largest single building available.
What’s your firm's role in the project?
Knight Frank is employed to act as letting agent on the property. We’re a global commercial and residential property advisor with 12 commercial offices in the UK employing 1,800 people.
What kind of businesses do you hope to attract?
The refurbishment has been carried out with corporate occupiers and tech operators in mind. Around 35% of office take up in the capital currently comprises occupiers in the technology, media and telecoms (TMT) sector. The ground floor defurbishment has been undertaken specifically with them in mind.
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