FNZ Secures 17,300 Sq Ft letting at Tanfield

FNZ, provider of integrated wealth management platforms, have announced that they have signed a lease with The Carlyle Group (“Carlyle”) to relocate their Edinburgh operations to Tanfield, Carlyle’s flagship office development in the heart of Edinburgh’s city centre.

FNZ, who provide market-leading platform technology and investment administration services to the financial services sector, will relocate from two separate offices in Edinburgh, enabling it to consolidate into a single larger, space and to continue its business expansion plans. It is expected to take occupation in November 2011, following the completion of the fit-out.

The new ten year lease secures FNZ 17, 300 sq ft on the ground floor of Tanfield, and the letting follows that to thetrainline.com, which relocated Tanfield earlier this year, joining a wide range of other occupiers including AECOM and Craneware.

Tanfield is situated on Inverleith Row and offers flexible and affordable grade A office space with 297 secure underground car parking spaces. The development has been designed to accommodate a broad range of occupiers with different space and tenancy requirements, which is reflected in the line up of tenants already located at the building.

Stewart Maclean, FNZ’s Group Financial Controller added:
“In looking for new premises we wanted to create a single hub for our existing staff, improve our profile for clients and provide room for future growth. Tanfield has provided a solution to meet all these needs.”

Mark Harris, Director of The Carlyle Group, said:
“This latest letting not only reflects the outstanding quality of the space we have at Tanfield, but also the ongoing work we have done to ensure that it remains the first choice for occupiers in the region. Additional offerings to tenants such as the concierge service and the secure parking spaces enhance our offering, and, combined with Tanfield’s ideal location and competitive rents, makes it a compelling choice for those looking to take space in Edinburgh.”

Peter I'Anson, Partner at Ryden who represented The Carlyle Group stated
"Carlyle is absolutely delighted to attract another key occupier to Tanfield which offers flexible open plan space, secure car parking and an attractive environment for the staff. The continued expansion of FNZ made them an ideal occupier for The Carlyle Group."
Mark Jones, Director at DTZ and advisor for FNZ added:
“FNZ have taken full advantage of a series of lease breaks and expiries to significantly improve their office environment. The deal meets its business plan moving forward, but has minimised any impact on short term cashflows. FNZ have used current market conditions to relocate on as near a cost neutral position as could be achieved.”

The Carlyle Group was advised by Ryden and CBRE and DTZ acted for FNZ.