39 George Street: former stock exchange office
The Crown Estate offices in central Edinburgh which were briefly the headquarters of the failed Scottish Stock Exchange project have been re-let to two companies.
Bourse Scot, behind the project to launch a Scottish stock exchange, signed in 2019 a four-year lease for 7,800 square feet (725 m²) on two floors at 39 George Street.
However, after months of alleged lack of rent, Crown Estate Scotland, which manages the property on behalf of the Queen, was forced to apply for a deportation order.
The property has now been leased to a medical technology start-up and an unsecured loan company.
TestCard has secured 5,178 square feet on the second floor with plans to have staff in place when the Covid restrictions are lifted.
The company will create 25 jobs between Edinburgh and Scarborough by the end of this year after securing £ 4.5million to develop a medical testing app that people can access through their mobile phones.
Everyday Loans, the UK’s largest unsecured loan lender, signed for 1,597 square feet on the third floor and recently moved in.
Fiona Simpson of Crown Estate Scotland said: “In these uncertain times we have been keen to provide occupants with maximum flexibility in the lease structure and we are delighted that this has helped attract TestCard and Everyday Loans to 39 George Street. “
Adam Watt of Cushman & Wakefield, who advised Crown Estate Scotland on rentals jointly with JLL, added: Rapidly changing market.