New data ''a wake up call'' for Edinburgh market - commercial mortgages

21 November 2007

Figures showing that Edinburgh is catching up with the rest of Europe in terms of average office rents demonstrate the burgeoning popularity of the sector in the city, it has been claimed.

Prime office rents in Edinburgh rose by two per cent year-on-year in the third quarter, according to the latest study from Jones Lang LaSalle.

The Scotsman has noted that the report also predicts strong future growth as construction levels and demand rise and available space falls.

"This latest market analysis is further evidence of an improving office market in Edinburgh and should provide a wake-up call for those occupiers still considering re-locating in the city," commented Jones Lang LaSalle Edinburgh director Cameron Stott, speaking to the newspaper.

Firms with commercial mortgages in Aberdeen have seen the fastest UK office rental growth over the past six months, Knight Frank recently revealed, with central London also performing strongly in the property consultancy''s latest study.