Sainsbury’s Bank bags new Edinburgh office

Sainsbury’s Bank, the financial services arm of the supermarket group, has signed for new offices in Edinburgh in a dramatic downsize from its current building. The bank has taken a 10-year lease on 19,332 sq ft on the fourth floor of Parabola Capital’s 1 New Park Square in Edinburgh Park. Rent is set at £30 per sq ft, according to Radius records. Also known as 1 Airborne Place, the building is rated BREEAM Excellent with an EPC A rating. Sainsbury’s Bank took the entirety – more than 80,000 sq ft – of 3 Lochside Avenue, also at Edinburgh Park, on a 10-year lease in 2014. Cushman & Wakefield and JLL are leasing agents for 1 New Park Square. To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews Image courtesy of JLL