Firm secures tenancy of bank - commercial mortgages

14 July 2008

In news that may interest those with commercial mortgages, Gladedale Developments has been celebrating attracting another major company to its Lochrin Square development in Edinburgh.

The Co-operative Bank has taken up a ten-year lease on a 1,822 sq ft ground floor suite at no. 2 Lochrin Square, Property Executive reports.

Development director for Gladedale Capital David Robinson said: "We''re now over 95 per cent let with only one ground floor suite remaining, just six months after the launch of the building, which demonstrates just how successful it has been for us."

Situated in the heart of Edinburgh''s financial district, the Lochrin Square site is already host to Halifax Bank of Scotland, which occupies all 62,000 sq ft of no. 1 Lochrin Square.

The bank will be using the office to administer its operations in Edinburgh and the east coast of Scotland.

At present the bank has only a small presence in Scotland, with its only high street branch in the country being situated in Glasgow.