M&G Real Estate has pre-let all of its 390,000 sq ft of Grade A office accommodation at its £350m Haymarket Edinburgh to Deloitte, Shoosmiths and Dentons.
The announcement follows three deals for 48,000 sq ft being let out at its eight-storey Haymarket One development.
The subsidiary is part of M&G’s £65bn private and alternative assets business - with its property development partner Qmile Group.
The business advisory firm Deloitte will take up 16,380 sq ft and law firms Shoosmiths will take up 16,380 sq ft and Dentons has signed for 15,240 sq ft of Grade A office space – all on 15-year leases.
Each business will be relocating from existing office accommodation in Edinburgh city centre.
Future occupiers also include oil and gas company Capricorn Energy (formerly Cairn Energy) and law firm Shepherd and Wedderburn, alongside investment firm, Baillie Gifford, which has taken 280,000 sq ft on a 20-year lease.
Haymarket One is scheduled for completion in August this year with Haymarket Three in autumn 2023.
Aaron Pope, director, asset management at M&G Real Estate, said: “As an asset owner and an asset manager, M&G saw an opportunity to provide significant funding and expertise to regenerate Haymarket and transform it into a high-quality new destination for office workers and the local community.
“We are delighted that this fantastic office space has been pre-let to such prestigious global businesses, and we look forward to working with them and Qmile to deliver work environments which are centred around sustainability and occupier wellbeing. As a major investor in Edinburgh, M&G will continue to seek out opportunities in the city which, like Edinburgh Haymarket, can provide a sustained income for our customers and clients.”
Chief executive at Edinburgh-based Qmile Group, Paul Curran, said: “To announce we are 100% pre-let, despite all the challenges of the past couple of years, is a remarkable achievement by everyone involved in the Haymarket Edinburgh development. It is testament to the commitment and capability of our people, partners, and advisers, as well as that of Edinburgh’s commercial property market and the wider business community.”
Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.
