|
30: OFFICES
EDINBURGH | LOTHIAN | SCOTLAND
| EDINBURGH |
sources
/ notes |
2000 |
2001 |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
|
| Office stock - gross floorspace |
(*1) |
1.65 |
1.7 |
1.76 |
1.81 |
1.8 |
1.84 |
1.88 |
|
million sq.m. gross |
| Vacancy rate / availability (GVA Grimley) |
|
5.70% |
6.90% |
9.70% |
11.30% |
12.30% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Office development pipeline |
(*2) |
|
|
|
|
|
|
|
|
|
| .. completions |
|
56,363 |
80,287 |
92,672 |
90,225 |
20,291 |
69,107 |
35,398 |
|
sq.m. |
| .. under construction at year end |
|
107,041 |
121,629 |
195,333 |
68,334 |
95,296 |
101,960 |
53,000 |
|
sq.m. |
| .. planning permission at year end |
|
115,821 |
512,333 |
726,903 |
1,058,999 |
1,132,831 |
1,032,936 |
1,027,799 |
|
sq.m. |
|
|
|
|
|
|
|
|
|
|
|
| Office rentals |
|
|
|
|
|
|
|
|
|
|
| Prime rentals (Chesterton) |
(*3) |
£29.50 |
£29.50 |
£29.50 |
|
|
|
|
|
£ / sq.ft. |
| Top achieved rental (JL LaSalle) |
(*4) |
£29.00 |
£29.00 |
£29.00 |
£27.00 |
£27.00 |
£27.00 |
£28.00 |
|
£ / sq.ft. |
| Prime rentals (Ryden) |
(*5) |
£29.00 |
£29.00 |
£29.00 |
£27.00 |
£27.00 |
£27.00 |
£27.00 |
£27.00 |
£ / sq.ft. |
|
|
|
|
|
|
|
|
|
|
|
| Total office occupancy costs |
|
|
|
|
|
|
|
|
|
|
| Occupancy costs per sq.ft. (DTZ) |
(*6) |
|
$63.00 |
$67.30 |
|
|
|
|
$80.80 |
U.S. dollars / sq.ft. |
| .. world ranking ( / 92 office centres) |
|
|
10 |
5 |
|
14 |
12 |
|
|
|
| Occupancy costs per sq.ft. (KF) |
(*7) |
£46 |
|
|
£51 |
£52 |
£52 |
£48 |
|
£ / sq.ft. |
| .. world ranking ( / 84 office centres) |
|
7 |
|
|
8 |
8 |
9 |
11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Prime yields |
|
|
|
|
|
|
|
|
|
|
| (Chesterton) |
(*8) |
6.00% |
6.00% |
6.50% |
|
|
|
|
|
|
| (JL LaSalle) |
(*9) |
6.00% |
6.00% |
6.50% |
6.00% |
6.00% |
5.75% |
5.50% |
|
|
| (Ryden) |
(*10) |
6.25% |
6.50% |
6.50% |
6.00% |
6.25% |
5.75% |
5.00% |
4.75% |
|
| (Drivers Jonas) |
(*11) |
|
|
|
|
|
|
5.50% |
5.00% |
|
|
|
|
|
|
|
|
|
|
|
|
| Demand |
|
|
|
|
|
|
|
|
|
|
| Floorspace take-up (Chesterton) |
(*12) |
93,832 |
83,613 |
27,871 |
|
|
|
|
|
sq.m. net |
| Floorspace take-up (JL LaSalle) |
(*13) |
122,500 |
83,180 |
84,097 |
90,953 |
101,565 |
76,456 |
63,132 |
|
sq.m. gross |
| Floorspace take-up (Ryden) |
(*14) |
104,923 |
91,000 |
60,475 |
79,080 |
92,512 |
81,327 |
80,605 |
64,105 |
sq.m. gross |
| Floorspace take-up (Knight Frank)) |
(*15) |
|
|
|
79,000 |
87,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Supply / availability |
|
|
|
|
|
|
|
|
|
|
| Floorspace available (Chesterton) |
(*16) |
75,251 |
53,419 |
78,503 |
|
|
|
|
|
sq.m. net |
| Supply (JL LaSalle) |
(*17) |
25,000 |
51,792 |
103,750 |
78,894 |
86,200 |
141,008 |
132,153 |
|
sq.m. net |
| Supply (Ryden) |
(*18) |
65,708 |
100,574 |
149,999 |
220,620 |
224,748 |
237,984 |
207,335 |
217,391 |
sq.m. gross |
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