The firm will occupy the top three floors (five, six and seven) of the new office complex, which is being developed by BAM, in partnership with Hermes Investment Management, the £35.3 billion manager. The three floors will include office space and meeting facilities. It will have views to Fife, Edinburgh Castle, and to the Pentlands, with floors six and seven also featuring roof terraces.
With work well underway at the Morrison Street site, the building is due for completion in early summer 2020. After fitting out the new premises, Brodies plans to relocate all staff working from its Atholl Crescent and Capital House addresses to the new premises.
Brodies' Managing Partner, Nick Scott, said: "Ensuring that we can continue to provide our clients with the environment, as well as the quality of service, that they have grown to expect from our firm is fundamental. Our investment in these new premises underpins that. Moving to Capital Square will allow us to continue to build on those things that our clients value, including our extensive seminar programme. This new building will be a great place for clients to meet and work with our colleagues, and for us to host client events.
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"It is also essential that our colleagues benefit from a working environment that affords them the very best in modern working practices, consistent with the new offices we have secured in Aberdeen and Glasgow in recent years. The move will also echo the commitments we have made to sustainability in those locations. Moving to Capital Square will enable us to work more collaboratively with colleagues and clients alike, as well as providing premises that will support our future strategic plans."
Dougie Peters, Managing Director, BAM Properties said: "We were confident the market was right for a speculative investment of this scale and are delighted to welcome Brodies as our first occupier at Capital Square. There is an element of history repeating itself as Brodies was also our first occupier in our previous development at 110 Queen Street, Glasgow.
"Much has been documented about the lack of available Grade A space in Edinburgh and Capital Square will go some way to address the pent up demand for high calibre office space in prime locations which helps occupiers attract and retain the best talent. It was important to Brodies that the building afforded the best in modern working practices and provided a great place for staff to work and clients to meet."
Hermes Investment Management, working in conjunction with Parlison Properties, secured planning permission for the scheme in 2015 and Parlison Properties is continuing as development consultant for the project.
Ian Cody, Director - Asset Management at Hermes Investment Management added: "As Scotland's largest law firm, Brodies is exactly the type of occupier we were targeting for Capital Square, which is testament to BAM Properties' work so far in positioning the property. This would also not have been possible without the assistance of our fellow landowner and partner, The City of Edinburgh Council.
"Brodies will no doubt take full advantage of the development's strategic location in the heart of Edinburgh as well as the high quality facilities, which will create a prime working environment, and benefit from the building's excellent sustainability credentials. We look forward to welcoming them at the building once it is complete."
Capital Square is a premier 122,000 sq ft, purpose-built office development in the Exchange District in Edinburgh, and close to the Edinburgh International Conference Centre. The building has been designed to be built to the highest measures against which modern office buildings are now graded - BREEAM "excellent", EPC A and in all material respects to British Council of Offices standard for a "Category A" building.
(MH/LM)
