Completion approaches for first phase of Edinburgh’s Exchange Place 2 refurbishment
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The first phase of the £5.5 million refurbishment at Edinburgh’s Exchange Place 2 is reaching completion, providing Grade A office space in the city centre.
Almost 20,000 square feet of office space across three floors will be available from next month at Exchange Place 2, which is situated in the city’s Exchange District.
The building is being marketed by Knight Frank and EYCO.
The refurbishment project includes a new reception area, a wellbeing hub, and the installation of 80 cycle racks and a bike repair station.
Next year, work will start on phase two of the refurbishment project, with the delivery expected for next summer, delivering a further 38,000 square feet of Grade A space located on the building’s upper four floors.
The refurbishment comes at a time of an ongoing lack of office space in the city. Figures from Knight Frank indicate that Grade A vacancy in the city centre is 2.7%.
Toby Withall, partner at Knight Frank Edinburgh, said: “Exchange Place 2’s refurbishment provides much-needed, high-quality office space in Edinburgh city centre.
“The programme of work has been tailored to modern occupiers’ needs, emphasising sustainability and wellbeing.”
Withall added: “With demand for Grade A space continuing to outweigh supply, Exchange Place 2 will bring a welcome boost to occupiers looking for quality accommodation in central Edinburgh.”
Neil McConnachie, managing partner at EYCO, said that through the project there will be “57,882 square feet of Grade A space available over the next 12 months in floorplates ranging from 5,269 square feet to 10,297 square feet.”
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