March 15, 2010
Redevco has signed EDP Renewables (EDPR), one of Europe’s leading energy companies in the renewables sector, to open its first UK office at Princes Street, Edinburgh.
EDPR has taken a 5,360 sq ft fourth floor office suite at 40, Princes Street at a stepped rent reaching £25 per sq ft. The lease period is 10 years, with 12 months’ rent free. REDEVCO’s Grade A building at Princes Street has a total of five floors offering high quality office and retail accommodation in a prime location. EDPR will be joining other occupiers like Thomson Reuters, Davis Langdon, Brewin Dolphin and Aberdeen Asset Managers.
Adam Starr, Director of REDEVCO said: “This is a great boost for Edinburgh’s office market and we are delighted to welcome another high calibre 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.”
Jones Lang La Salle and King Sturge advised REDEVCO on this deal. EDPR was self-represented.