Green Investment Bank completes Edinburgh Atria development

Atria Edinburgh, the City of Edinburgh Council’s landmark Grade A office development, has achieved completion on time and on budget, it has been announced today.

The development, which marks the completion of The Exchange business district in Edinburgh, is split between two buildings (Atria One and Two), comprising nearly 200,000 sq ft of accommodation.  Atria One provides 186,008 sq ft of highly efficient, flexible floorplates (up to 32,000 sq ft) over seven floors and the smaller Atria Two provides 12,922 sq ft split over two office levels. 

It is the most sustainable development in Edinburgh with Atria One on target to achieve BREEAM* ‘Excellent’ and EPC** ‘B’ ratings while Atria Two is set to achieve BREEAM ‘Very Good’ and EPC ‘C’ ratings.  It also benefits from having green sedum roofs, low E glass glazing, energy efficient lifts, electric car charging spaces and an abundance of cycle spaces.

The Green Investment Bank has confirmed it is the latest occupier to take space in Atria One.  The Bank has taken circa 12,000 sq ft of space on Level 7, which means Atria One is now 33% let. The Bank plans to use 8,000 sq ft and will sublet circa 4,000 sq ft, with Montagu Evans acting as letting agent.

Lord Smith of Kelvin, chairman of the Green Investment Bank, commented:  “The Green Investment Bank is the first bank of its type in the world. A year ago Edinburgh beat off bids from cities around the UK to win the right to host its HQ. That was a significant victory for Scotland and its capital city and all of the public and private sector organisations that supported the bid. Our search criteria for an office to house the HQ were simple; it had to be the greenest office space in Edinburgh. In Atria One we’ve found that office.”

Councillor Andrew Burns, Leader of the City of Edinburgh Council, added:  “It is very exciting that Atria Edinburgh is now complete and that tenant fit-out programmes are commencing.  Atria is helping to provide Edinburgh with a competitive advantage in attracting new, and retaining existing, businesses.

“It is excellent news that we can announce the Green Investment Bank locating to Atria One.  Atria has top sustainability features making it a fitting home for this recently established financial organisation.”

Investment manager Brewin Dolphin last year announced it will take 25% of Atria One and is currently undergoing a fit out project.  The company will take occupancy in June 2013.  

Ben Reed, director at Jones Lang LaSalle, joint letting agent for Atria, said:  “Atria Edinburgh is a key development for the city, not just in the space and flexibility it offers, but for its excellent sustainability and design credentials.  The buildings also benefit from being in close proximity to major transport links and a wide variety of amenities, making it an attractive option for occupiers.”

The commercial office development has been undertaken alongside an expansion of the adjacent Edinburgh International Conference Centre (EICC). Since the EICC opened in 1995 it has delivered an economic impact for Edinburgh of more than £300 million.  To compete in a global conference market the EICC needed to expand to attract even greater numbers and host larger events, thereby realising an estimated £2.3 billion economic impact for Edinburgh and Scotland over a 30-year term. 

Atria Edinburgh is being marketed for let by joint agents Jones Lang LaSalle and Montagu Evans.

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