Regeneration efforts lead to surge in demand for Leith offices

The Commercial Quay development in Leith. Picture: Contributed

The regeneration of Leith has led to a jump in demand for office space, a new report has revealed.

In the first half of 2018, transactions in the area totalled 18,500 square feet, with a further 35,000 sq ft of space under offer, according to statistics from property firm GVA.

The total of 53,500 sq ft is an increase of 27 per cent from the 42,125 sq ft of space transacted during the whole of 2017 and up 72 per cent from 31,000 sq ft in 2015.

As well as a leap in commercial office take-up, Leith has seen a resurgence in bars, restaurants and leisure options in recent years.

Peter Fraser, director of business space for GVA, said: “The speed of the revitalisation of Leith has been remarkable and it is an enviable place to live and work, which in turn leads to increased interest in businesses to be based there.

“We have seen a real mix of commercial occupiers take space over the past 12 months, including creative firms, estate agents and website developers.”

He added: “There is no doubt Leith has benefitted from the limited supply in the centre of Edinburgh, but the area has only begun to realise its incredible potential.

“Leith has an abundance of brownfield sites which could be used to create larger developments and soak up some of the demand from the city centre.”