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News Release

Edinburgh

LogicNow continues growth with new office in Edinburgh’s Exchange Crescent


Edinburgh, 24 June 2015 - LogicNow Ltd, a leading provider of integrated IT service management platforms, is set to relocate to new offices in Edinburgh's Exchange Crescent following significant expansion of the business.

The firm has signed a five year lease to occupy 13,918 sq ft of Grade A office space at Exchange Crescent. The deal, which was agreed at a rate of £24 per sq ft, also includes the lease of six car parking spaces.

JLL, who acted for LogicNow, was tasked with the fit out of the premises, providing open plan desking, a range of meeting rooms, a large café styled break-out space, together with a dedicated games room. The cutting-edge design incorporates an architecturally inspired lighting scheme, bespoke furniture and graphics package.

LogicNow employs more than 470 people and operates from 11 locations across EMEA, the USA and Asia Pacific, supporting IT professionals with cloud-based service management platforms. The firm's growth, driven by innovation in its product range and a disruptive business model, is reflective of the overall growth in Edinburgh's telecommunications, media and technology sector. Its Edinburgh arm is relocating from its current location in Hanover House on Hanover Street.

A total of 71,151 sq ft of office space remains vacant across seven suites at Exchange Crescent, which is being marketed by JLL, presenting a range of leasing opportunities, including the largest single Grade A space available in the market at 31,364 sq ft. The premises benefit from excellent transport links as well as a secure parking area in the basement and an abundance of retail and leisure facilities in the surrounding area. The current tenant mix is now varied to include Shepherd + Wedderburn, Grant Thornton, Buck Consultants, JLL, the Faculty of Actuaries, Moody's, Pure Gym and Street Bar, and three further suites are currently under offer.

Craig Watson, Director for JLL in Scotland, said: "The continued expansion of technology sector companies in Edinburgh is further evidenced by LogicNow's decision to relocate in order to accommodate company growth. The tenant mix in Exchange Crescent is now truly diverse and the momentum we are currently experiencing is primarily driven by the competitive lease terms on offer. It is great to see a technology company acquiring space as part of this diversity in the Exchange District, which is traditionally host to financial organisations."

Alistair Forbes, General Manager for LogicNow Ltd, said:  "We have seen tremendous growth in our business over the last five years, fuelled by innovation in our product range and our disruptive business model. The global trend towards IT outsourcing by small and medium businesses has seen the market opportunity grow for our customers and us. In addition, we have grown our market share dramatically to become a world leader in our space. Our base in Scotland has been at the heart of this global expansion and over the last few years the thriving software technology scene in Edinburgh has provided an ideal base from which to drive that growth.

"As a software company, LogicNow depends on attracting the best people, and Scotland's world-renowned universities and international outlook make continuing our investment and growth in Edinburgh a natural choice. Our new office is part of our ongoing drive to make LogicNow a great place to work and to recruit the great talent we need to maintain our position as a sustainable high-growth business."

Commenting on the refurbishment, Edward Rennie, Senior Surveyor, Buildings and Construction at JLL said: "A key element of our brief was to deliver an an inspirational work place which staff are proud to call their own and could also help the business attract new staff in an incredibly competitive recruitment environment. The finished article is a world away from the cellular working environment of a townhouse office that LogicNow previously occupied, and the client has been blown away by the positive effects that open-plan working in an inspirational space has had on their staff."