Knight Property Group has acquired the Atholl Exchange office building in the heart of Edinburgh’s Exchange District for an undisclosed price.
Located on Canning Street, the 9,934 sq ft modern, steel-framed corner office building is arranged over basement, ground and four upper floors. The all-electric building features open plan office floorplates, a full-height atrium, LED lighting, secure bike storage and dedicated car parking.
Knight Property Group intends to undertake a comprehensive refurbishment and repositioning programme at Atholl Exchange, with planned works including the full refurbishment of vacant floors, upgrades to the atrium and common parts and improvements to the external frontage.
James Barrack Jnr, director at Knight Property Group, said: “We are pleased to have completed the acquisition of the building and are excited about the opportunity to reposition it within the Edinburgh office market. Our plans include a comprehensive programme of refurbishment and upgrading works designed to enhance the quality, efficiency and overall occupier experience within the property.
“There continues to be strong demand for well-located, high quality office accommodation in the sector under 5,000 sq ft in Edinburgh, particularly space that meets modern expectations around sustainability, flexibility and staff well-being. We look forward to delivering a refreshed building that will appeal to a broad range of occupiers while securing the long-term future of the asset.”
Angela Lowe, director at CBRE added: “There remains strong occupier demand in Edinburgh for high quality office accommodation that combines a central location with modern specification and strong sustainability credentials. The proposed upgrades will significantly enhance the space and create an attractive offering for a wide range of businesses seeking premium office accommodation in the city. We expect the refurbished floor to generate strong interest from occupiers looking for high quality, ready-to-occupy space in a competitive market.”
