Work to start on £80m Edinburgh offices
Developer Moorfield Group is to start construction of two speculative office blocks this month at Edinburgh’s Quartermile development.
Moorfield is pressing ahead after agreeing an £80 funding deal with M&G Real Estate, believed to be one of the largest speculative office funding deals to have ever been undertaken in Scotland.
The deal covers two office buildings at the development, Quartermile 3 and Quartermile 4 and will see up to 400 construction jobs created over the construction period.
Construction on the seven-storey Quartermile 4 building will start this month, which once finished in early 2016, will see a start to the six-storey 72,991 sq ft Quartermile 3 office.
Quartermile managing director, Paul Curran, said: “The deal is excellent news for both Quartermile and Edinburgh. We are already seeing strong occupational interest and are working with our agents to secure lettings.”
Once complete, the site designed by Foster + Partners will comprise over 323,000 sq ft of grade A office accommodation, 900 apartments, 108,000 sq ft of retail and leisure space and seven acres of open landscaping.
The development is expected to be completed in 2018
Aaron Morby | Wed 2nd July 14 | Construction Enquirer