EDP Renewables lease Princes Street offices
March 27th, 2010 | by Selena McCubbinEDP Renewables, a global renewable energy operator and the third largest force behind wind energy worldwide, is preparing to open offices in Edinburgh‘s main thoroughfare.
40 Princes Street will become home to the energy giants as they make preparations to take up 5,360 sq ft of desk space. The deal has been signed by EDPR as part of a ten year lease with options for a five year break.
Redevco, who own the Edinburgh offices at present, have let the fourth floor office suite to the renewables company. The offices at number 40 are currently the only noteworthy office space available on Princes Street.
Typically renowned for being a shopping haven, Princes Street is well known for its spectacular views of Edinburgh Castle and the city’s Old Town.
The building itself is in modern juxtaposition to the grandeur of the historic castle, housing Grade A office spaces in a structure characterised by its minimalistic glass fronted design. With five floors of offices available, the space for lease stands at 47,482 sq ft in total.
Other businesses to have taken up the opportunity of a 40 Princes Street office space include Thomson Reuters, Davis Langdon and Brewin Dolphin Aberdeen Asset Managers. A press release from King Sturge notes that office holder Redevco is a global company managing a wide portfolio of over 800 retail and commercial properties across Europe.
Adam Starr, company director of Redevco, said of the deal, “We are delighted to welcome another high caliber occupier to 40 Princes Street. This building is one of Edinburgh’s most dynamic developments, boasting spectacular views plus providing the quality of accommodation that EDPR wanted.”
King Sturge advised Redevco on the arrangement while EDPR represented themselves.
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