Second tenant for Sugar Bond offices
Reduced rental prices for office space at a converted sugar warehouse in Edinburgh have attracted a new tenant.
Property developers Highcross have secured a second tenant for their Sugar Bond development at Leith, Edinburgh. The developers are hoping that the reduced headline rental price of £7.50 / sq ft, a discount to rentals for city centre Edinburgh offices, will attract additional tenants in the near term.
The Sugar Bond (pictured) is one of 2 former bonded warehouses that have been converted in to modern office accommodation. The offices are located in an established business location, approximately 1.5miles from Edinburgh city centre.
There are 2 other mixed-use office and residential buildings in the area and commercial tenants include Toshiba and NHS Scotland.
The Sugar Bond, an 8-storey building, offers 21,756 sq ft of floor space and is smaller than the adjacent Bonnington Bond building, also owned by Highcross, which offers 24,685 sq ft.
The new tenant is online marketing firm Caliber Interactive, who have agreed to take the whole 7th floor which offers 2,594 sq ft of open plan accommodation. A 5-year lease has been agreed with a break year 3. The other tenant at the building is charity L’Arche who signed a 10-year for the whole 1st floor in September last year.
Commenting on the lease, Caliber Interactive’s Commercial Director Francesca Kosina said: “[We] are very pleased with the relocation to our new offices at Sugar Bond. The move reflects a sustained period of growth for the company, and the space is well-suited as we continue to expand our operations team in Edinburgh.”
Marketing agents are Ryden, Montagu Evans and CWPC.
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