July 1 2014

Moorfield Group, owners of Edinburgh’s Quartermile development, is to begin construction of two new speculative office blocks this month after agreeing a funding deal with M&G Real Estate.

The £80m Foster + Partners designed scheme forms the last remaining commercial element of the master plan and has been described by the developer as ‘one of the largest speculative funding deals to have ever been undertaken in Scotland.”

Quartermile 4 will begin construction by the end of the month, delivering 130,600sq/ft of office space to the market by 2016 – whereupon work will begin on its smaller sibling, Quartermile 3, a 72,991sq/ft block.

Quartermile managing director, Paul Curran, said: “Construction of Quartemile 4 will commence in July this year making it the first speculative grade A office development to be undertaken in the city for a number of years.

“We are already seeing strong occupational interest and are working with our agents to secure lettings.”

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