A major affordable housing provider in Dundee is moving into a new home of its own.
City Quay-based Unicorn Property said it had leased out the first floor of River Court, part of the major DundeeOne office development on the banks of the Tay, to Home Scotland.
The group has had a long-term base in the city’s Meadowside. It is moving around 40 staff into the new purpose-built waterfront premises which also houses games firm YoYo, MacRoberts Solicitors, DC Consulting and SeaRoc.
Unicorn chief executive officer Tim Allan said the 10-year Home Scotland lease meant DundeeOne was now 50% let, with headline rents of £16 per square foot. “We are delighted to welcome Home Scotland to DundeeOne,” said Mr Allan.
“Their presence continues our steady letting flow at City Quay. We have now created three other offices on the first floor and expect other lettings to follow Home Scotland soon.”
Home Scotland, a subsidiary of Home Group, manages a large number of properties in Dundee and is involved in the multi-million-pound redevelopment of the Mill o’ Mains area of the city.
“Throughout the UK, Home Group is adopting changes to its office network which will allow us to reinvest £1 million each year in our customers,” said Karen Heaney, Home Group director of asset management.
“Although we have an existing office in Dundee for a number of years it was becoming dated.
“By moving to DundeeOne we’ve been able to provide our colleagues with a modern working environment. We’ve also transferred some head office functions from Edinburgh to Dundee, where office space is more reasonably priced.”
Andrew Dandie, senior director at letting agents Graham & Sibbald, said: “This letting shows the increasing levels of activity within the Dundee office market.
“Starting in the last quarter of 2013 and continuing into 2014 there have been improving tenant inquiries, especially for Grade A space such as DundeeOne.
“As a result, we are expecting interest to convert into further lettings in this improving market”.