NEW LANDMARK OFFICE BUILDING LAUNCHED TO MARKET
NEW LANDMARK OFFICE BUILDING LAUNCHED TO MARKET
• 85,000 sq ft 1 New Park Square in Edinburgh now complete and available for tenant occupation
• Owner and developer Parabola has created Edinburgh’s greenest office building
11 May 2022 – 1 New Park Square, a prestigious new landmark office building located in Edinburgh, has been launched to the market following practical completion.
Developed by Parabola and located in its new zero carbon urban quarter, Edinburgh Park, it comprises 85,000 sq ft of Grade A office space over five floors, providing a welcome boost to the capital’s office market which has a critical shortage of high quality, sustainable office accommodation.
The building has a double height entrance and reception area, high quality finishes throughout and flexible floorplates which range from 19,440 sq ft, all capable of sub-division. It has a generous car parking and cycle storage provision and has shower/changing facilities with lockers. Benefitting from an abundance of natural light, all office floors have openable windows and VRF air conditioning throughout.
It is Edinburgh’s greenest building with EPC ‘A’ and BREEAM ‘Excellent’ ratings achieved, and an all-electric infrastructure, PV arrays on the roof and double height balconies providing exceptional fresh-air circulation. It has been designed to minimise power consumption using lean technology. The entire Edinburgh Park development will be net zero carbon in operation, powered by 100% green electricity, in part generated on the site.
It also has a WiredScore ‘Platinum’ rating in recognition of its best-in-class digital infrastructure and connectivity.
Parabola is keen to address occupiers’ wellness and welfare requirements, and this has led to some unique internal finishes being introduced to create a stunning working environment. For example, the reception has a bespoke oak desk with terrazzo flooring and timber lining, and features a unique tapestry commissioned by Parabola and created by Dovecot Studios. The landscaped public realm is also peppered with world-class sculpture, some of which were specially commissioned for the site.
Notable features in 1 New Park Square include the multi-use auditorium, meeting rooms and a restaurant, bar and bakery that will open in the summer. It also sits within a civic square with an adjoining garden square, multi-use games area, car park and padel tennis courts.
It benefits from numerous transport links with two tram stops on its doorstop, providing effortless connections to the city and beyond.
Parabola’s Managing Director Tony Hordon said: “The completion of this cutting-edge office building is another step forward in the development of Edinburgh Park. Available now, it provides the perfect solution for occupiers looking for flexible and efficient office space in an easily accessible location with a focus on wellbeing.
“At Edinburgh Park we are creating a new urban quarter, cultural destination and creative campus with sustainability at its heart. This new neighbourhood brings stunning architecture, inspirational workplaces, affordable homes, a civic square and its own arts programme to a sublime setting. Our vision for the overall development is starting to come to life and there is a buzz to the area which will only grow as the plans progress and we add more elements to the site.”
The scheme was designed by prize-winning architect AHMM with Sir Robert McAlpine as the main contractor. JLL and Cushman and Wakefield are the joint letting agents.
Cameron Stott, JLL Edinburgh’s Lead Director, said: “Now complete and available for occupation, 1 New Park Square is one of Edinburgh’s greenest buildings, helping occupiers to benefit from lower running costs and meet future sustainability targets.
“There is an acute shortage of Grade A office accommodation in Edinburgh, and with no other new build office space available and completing before 2024, the delivery of 1 New Park Square is critical for the city. As businesses return to the office, we have seen a significant increase in demand from occupiers seeking high quality space which they can use to encourage their staff back to the office – 1 New Park Square certainly meets those requirements.”
James Thomson, Partner at Cushman & Wakefield Edinburgh, added: ‘’1 New Park Square is unique in delivering what forward thinking office occupiers are seeking. The highly sustainable approach to design and operations, and the intense focus on creating a great working environment through provision of outstanding amenities and an exceptional customer experience, is central to meeting ESG obligations and attracting increasingly demanding top talent.”
In addition to 1 New Park Square, Edinburgh Park will comprise a further 1,000,000 sq ft of commercial space and up to 1,800 homes including for sale, rent and affordable housing.