EY will sublet a floor of the development, following eight years at its current headquarters. The new office will provide a modern high spec workplace for people and clients in a well-connected location due its proximity to Haymarket train station and airport tram links.

Sue Dawe, EY Scotland country managing partner, said: “Our new Edinburgh headquarters is part of a series of investments that demonstrate continued commitment to our growing Scotland practice.

“We have around 1300 people and Partners across our three Scottish offices, and this move is part of strategic investment to further serve our clients, provide a modern workspace for our people and maintain a prominent, lasting presence across the country.

“It also represents our commitment to the Scottish economy, delivering high quality careers for those who live here – a local footprint with global reach.”

Tim Campbell, joint managing partner at Baillie Gifford, said: “The new office is a long-term investment for Baillie Gifford and our clients, bringing Edinburgh colleagues together in one place.

“When we agreed to move into such a large building, the lease was structured from the outset to give us flexibility. This sublet makes practical use of space we do not yet need, while allowing another global business to benefit from a prime Edinburgh location. Work on the fit-out is progressing well and we look forward to moving in over the coming months.”

In 2020, Baillie Gifford signed a pre-let deal with M&G Real Estate for the new office, which comprises 280,000 sq ft of space over eight floors – double the size of its current office space. Around 1600 Baillie Gifford colleagues will relocate from Calton Square, on the east side of the city, to the new head office in mid-2026.

EY will occupy the 38,000 sq ft second floor and will share some communal spaces on the ground floor. EY employs around 720 people in Edinburgh and a further 580 across Glasgow and Aberdeen. The firm is also expanding its Glasgow presence by taking an additional floor at its George Square office later this year, alongside a full refurbishment programme.

At the time of the pre-let agreement, Baillie Gifford said: “It will bring all our Edinburgh colleagues under one roof again, in a more flexible and dynamic working environment. This will help to support our staff and clients around the world, whilst providing space for further growth.”

For the previous office move the firm shared space at Calton Square with Rockstar North and Citibank.

JLL advised on the sub-let deal.