Independent commercial property specialist CuthbertWhite was commissioned to benchmark Norton Park against the rest of the market and underline its vital place for the capital\u2019s not-for-profit sector.<\/p>\n
The objective report found Norton Park, which is currently home to 25 charities and no-profits, \u00a0stands apart from other serviced offices in the city, not just on cost, but on security, quality, and long-term value.<\/p>\n
Keith Robertson, Chief Executive of Norton Park, said: \u201cFor many third sector organisations, cost and stability are the two biggest challenges.<\/p>\n
\u201cThis report highlights what we\u2019ve long known \u2013 that Norton Park is affordable while also offering a secure and high-spec base where organisations can thrive.\u201d<\/p>\n
Set within a fully modernised Grade B listed former school and church, Norton Park combines flexible leases, all-inclusive rent and a supportive, environment.<\/p>\n
CuthbertWhite found that space in Norton Park is provided at 50% to 80% below market rates, providing stability and the kind of professional setting usually reserved for non-Third Sector tenants.<\/p>\n
Organisations based at the hub include major charities like Cyrenians, Samaritans, Social Work Scotland and Edinburgh Young Carers.<\/p>\n
The research highlighted the not-for-profit business hub delivers inclusive rent covering everything from high-speed broadband and utilities to cleaning and maintenance \u2013 with no hidden costs.<\/p>\n
It also praised the site\u2019s modern amenities, which include soundproof call pods on every floor, EV charging points, secure cycle storage, full lift access, breakout spaces, and a tenants\u2019 lounge. A programme of regular events such as yoga, cinema clubs and lunch-and-learn sessions further enhances the community feel.<\/p>\n
Chris Cuthbert of CuthbertWhite: \u201cWe work with many high-end commercial operators across Edinburgh and can say with confidence that Norton Park is a true outlier.<\/p>\n
\u201cIt delivers tremendous value with quality features and, crucially, offers a level of leasing security to tenants that can be a challenge to find elsewhere in this sector at a similar price point.\u201d<\/p>\n
The site has maintained a 95 per cent occupancy rate over the past three years, and more than 60 per cent of current tenants have been based there for over five years \u2013 a testament to satisfaction and long-term commitment.<\/p>\n
Within the 30,000 sq ft building are units from 60 sq ft to 3,000 sq ft, accommodating 1-40 desks. Norton Park also operated a dedicated co-working space, which allows non-profits to rent desks as needed.<\/p>\n
Ewan Aitken, CEO of Cyrenians, said: \u201c\u2018Not only are the facilities at Norton Park excellent value for money, but there is also a wealth of opportunities for collaboration with others in the Sector.<\/p>\n
\u201cThe sense of community developed here at Norton Park, and supported by the staff here, is one of the key reasons we are delighted to call this our \u2018central\u2019 home.<\/p>\n
Keith added: \u201cOwning our premises means we can pass those savings directly on to our tenants. It also means we can plan with certainty, reinvest in our facilities and offer a truly sustainable future for the charities and social enterprises we support.\u201d<\/p>\n
With rent and service charges set at least 50% below market rates, the annual saving to the sector is significant \u2014 effectively matching what tenants would otherwise spend on a traditional premises. Last year alone, that translated to a saving of \u00a3515,000. Assuming similar savings year on year since opening, the cumulative value to the sector is now estimated at over \u00a312 million.<\/p>\n
Keith added: \u201cThese are estimated figures, but whatever way you look at it, our value to the Third Sector in Edinburgh is incredible. We are currently exploring how to more accurately calculate the wider social value that Norton Park delivers to the sector, the local community and the city.\u201d<\/p>\n
Cuthbert White\u2019s report also highlighted that many commercial serviced office spaces operate under management agreements and leases that can end offering little to no tenure security. Norton Park\u2019s owner and occupier model is the opposite, offering vital, long-term peace of mind to tenants.<\/p>\n
Norton Park is Edinburgh\u2019s first office complex exclusively for charities and social enterprises, offering discounted rates for registered charities, community groups and public sector organisations.<\/p>\n
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