Commitment secured

Grosvenor Developments is the latest  high-profile occupier to take space at the  newly-refurbished offices at 33 Castle Street in  Edinburgh city centre. Relocating from Alva  Street, Grosvenor has taken a 10-year lease on  the first floor, extending to 1,782sq ft, at a  rent of £20 per sq ft.

Grosvenor Developments is the latest  high-profile occupier to take space at the  newly-refurbished offices at 33 Castle Street in  Edinburgh city centre.

Relocating from Alva  Street, Grosvenor has taken a 10-year lease on  the first floor, extending to 1,782sq ft, at a  rent of £20 per sq ft.

The property, which is owned by a client of  fund managers CBRE Investors, has been  refurbished, transforming surplus retail space  on the first and second floors into high quality  office accommodation.

Grosvenor is the second high-profile occupier  to be attracted to 33 Castle Street with Knight  Frank having taken occupation of the second  floor immediately following completion of  works in summer this year.

Will Lawrie, CBRE Investors, said: “We’ve invested extensively in upgrading the  accommodation at Castle Street as we were aware of a lack of decent small office suites in  the city centre.”

Stewart McMillan of Cushman & Wakefield,  who acted for CBRE Investors, said: “To have  attracted two high-profile occupiers so soon  after completion of the refurbishment pays  testament to the quality of the building  and the continued desirability of the  “golden rectangle” as a location for business  in Edinburgh.’’

Kate Graham said: “Savills were very pleased  to secure such good quality office  accommodation of this size in such a central  location on behalf of our client, Grosvenor  Developments Ltd.”