Cirrus Logic takes remaining Edinburgh Quartermile space

By Paul Norman - Friday, May 11, 2018 15:01

Quartermile Developments has signed Texas headquartered semi conductor group Cirrus Logic for the remaining 7,400 sq ft on the ground floor at Edinburgh's Quartermile 3, meaning the 73,000 sq ft building is now fully let.

Cirrus Logis already occupies 70,033 sq ft in the Quartermile 4 Building at the site, while State Street occupies the remainder of Quartermile 3.

State Street signed a 15-year lease for the top five floors last year.

In 2014, M&G Real Estate provided £80m of development finance for Quartermile, owned by Moorfield Real Estate Fund III (MREFIII).

The deal enabled Moorfield Group and Quartermile to speculatively develop the remaining two offices in the development, Quartermile 3 and Quartermile 4. It is one of the largest speculative office funding deals undertaken in Scotland.

Quartermile 4, which comprises 130,600 sq ft of office space, including 12,490 sq ft of retail accommodation, achieved practical completion in 2016 and is now fully let.

CBRE and Montagu Evans advise Quartermile. JLL advised Cirrus Logic.

pnorman@costar.co.uk

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