George Street. Getty Images A PROPERTY consultancy has reported a surge in office take-up in the Scottish capital with a further significant rise expected in the coming months as the country continues to move out of lockdown. The take-up increased nearly 80 per cent in the second quarter of 2021 compared to the first three months of the year in Edinburgh as the economy began to re-emerge, according to analysis from Knight Frank. Some of the deals had been delayed because of Covid, it said. The independent commercial property consultancy found that around 160,000 sq ft of office space was transacted between April and June, up significantly on the around 90,000 sq ft of take-up in Q1 2021 and 10,900 sq ft during the same period last year at the height of the first lockdown.
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Aerial view of Edinburgh By Scott Wright DEMAND for office space has remained “robust” in Edinburgh despite people continuing to work at home, property agent Knight Frank has declared. New research published by the firm suggests the market has had an “encouraging start to 2021”, with around 90,000 square feet taken up in the first quarter. This compares with around 99,000 sq ft in the previous quarter, and 68,915 sq ft during the same period of 2020. The first quarter of last year was largely over by the time lockdown began. Knight Frank noted there are requirements for around 500,000 sq ft in the city but said the development pipeline continues to be restricted; it said 281,000 sq ft of new space is under construction.
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