£5m-plus makeover of landmark Edinburgh office building will deliver ‘much-needed’ workspace
“The programme of work has been tailored to modern occupiers’ needs, emphasising sustainability and wellbeing” – Toby Withall, Knight Frank
The first phase of a multi-million-pound refurbishment of a landmark Edinburgh office building is approaching completion.
Property experts said the makeover of Exchange Place 2, located in the capital’s Exchange District, would deliver “much-needed” Grade A workspace in the city centre. The initial phase of an extensive, £5.5 million refurbishment programme is nearing completion, with phase two due to begin next year.
Nearly 20,000 square feet of office space across three floors will be available from November at Exchange Place 2. The building is being marketed by property consultancies Knight Frank and EYCO. Its overhaul arrives as the lack of high-quality office space in Edinburgh continues to intensify.
Figures from Knight Frank suggest that Grade A vacancy in the city centre is sitting at just under 3 per cent, with little additional space in the pipeline to absorb potential demand from upcoming lease events.
Toby Withall, partner at Knight Frank Edinburgh, said: “Exchange Place 2’s refurbishment provides much-needed, high-quality office space in Edinburgh city centre. The programme of work has been tailored to modern occupiers’ needs, emphasising sustainability and wellbeing.
“With demand for Grade A space continuing to outweigh supply, Exchange Place 2 will bring a welcome boost to occupiers looking for quality accommodation in central Edinburgh. We expect to see a great deal of interest in this first phase of delivery and look forward to getting underway with the second next year.”
Neil McConnachie, managing partner at EYCO, added: “We are delighted that the refurbishment of Exchange Place 2 is well underway and, with 57,882 sq ft of Grade A space available over the next 12 months, we will be well placed to meet the demand of all occupiers.”
The refurbishment programme is said to be focused on “performance, wellbeing and sustainability”. The project includes a new reception area, a wellbeing hub and the installation of 80 cycle racks and a bike repair station to support active commuting.
Work will begin on the second phase of the project in 2027, with delivery expected next summer, providing an additional 38,000 sq ft of space on the building’s upper four floors.
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