Business Space / Business Space Deals
Law firm grows at Exchange Plaza
Contact Neil Gordon
One of Scotland’s largest legal firms has expanded its Edinburgh office as it continues to grow.
Burness Paull, based on the third floor of Exchange Plaza in Edinburgh has leased the 16,676 sq ft second floor beneath its current premises, taking its total floor space in the building to 33,353 sq ft.
The deal means the Grade A office building on Lothian Road, which is also home to Cairn Energy plc, Artemis Fund Managers, Leeds Building Society and Brewdog is now fully occupied.
Burness Paull has seen a 30% increase in international instructions over the past 12 months, and taken on 106 staff across the firm in response to the rise in new business. It now employs more than 530 people in Scotland, including 68 partners.
JLL and Knight Frank acted as joint letting agents for the building’s owner, The Lister Property Partnership, who recently refurbished the building installing new air conditioning, metal suspended ceilings and LED lighting.
Cameron Stott, Director at JLL, said: “When Clydesdale Bank vacated Exchange Plaza, there was over a third of the building vacant. However, due to the quality of refurbishment delivered by the landlord and the prestige and prominence of the building, we have had a healthy level of interest in the vacant space and this has resulted in securing a fantastic letting result returning the building to 100% occupancy. Exchange Plaza is undoubtedly once of the most admired buildings in Edinburgh, and this has been backed up by the strength of occupier interest in the office accommodation.”
The building’s full-height seven-storey atrium has also been transformed with the provision of new soft furniture and informal meeting areas.
Neil Gordon, Partner at Eric Young & Co, acted for Burness Paull. He added: “My client’s established home in Edinburgh is Exchange Plaza, and when the opportunity came to expand in the building it was too good an opportunity to miss. With the works undertaken by the landlord and the quality of the proposed refurbishment they were delighted to commit to the longer term in the building.
Toby Withal from joint lettings agents Knight Frank, said: “Exchange Plaza is one of the capital’s most prestigious office buildings and commands a high profile at the centre of central Edinburgh where many corporate and tech occupiers are based.”
Lothian Road offers plentiful amenities and has been further enhanced by new eateries and bars including Beer Kitchen, Byron Burger, Bread Meats Bread and Pret a Manger.
Suites at Exchange Plaza also come with shower facilities, cycle racks and car parking spaces.
Commenting on the decision Tamar Tammes, managing partner at Burness Paull, said: “We are committed to growing the firm sustainably and attracting the very best talent to serve clients. With that comes the need to create a modern, flexible environment for our people, and the expansion of our footprint at Exchange Plaza meets these requirements perfectly.”