Edinburgh office rents rise at sharpest rate for decade

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1. Knight Frank has said city centre office rents in Edinburgh are rising at their fastest rate in almost a decade.

The property consultancy said prime office rents rose by nearly 8 per cent last year, from £40 per square foot to £43 per square foot. Since 2014, the annual average has been just 5 per cent.

Knight Frank attributed the rise in rents to a “constricted development pipeline” and ongoing demand for space in central Edinburgh. They said prime rents could rise again this year.

“A big contributor to this has been the flight to quality we have seen since the Covid-19 pandemic,” said Andrew Hill, lease advisory