Halladale cashes in with new tenants

HALLADALE, the Scottish property investor and developer, has booked two new tenants into its Onesixty development at Fountainbridge.

The company, which last week agreed a £171 million takeover by Australian property giant Stockland, said it had secured business services and accountancy group Tenon, and performance enhancement specialists good practice.net.

Both have ten-year leases which together cover 11,090sq ft of office and ancillary space at the 48,500sq ft site - the former home to Scottish Courage.

Halladale, which owns Onesixty in a joint venture with Glasgow-based investor/developer Gregor King, said the rent equated to £215.28 per square metre, or £20 per square foot - half that for the associated ancillary and storage space and £600 for each of the 23 car parking spaces tied in with the deals.

Ken Lindsay, Halladale's property director, said: "Onesixty continues to prove highly attractive to professional occupiers, several having relocated from traditional townhouse accommodation.

"With six out of 12 suites now either let or in solicitors' hands, we are confident that the remaining space will also soon be under offer."