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Article: Edinburgh Park firm hit by GBP 2m losses
- Article from:
- Evening News - Scotland
- Article date:
- October 27, 2004
- Author:
CopyrightCopyright 2004 Evening News - Scotland. Provided by ProQuest LLC. (Hide copyright information)
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THE council company behind Edinburgh Park, the Capital's flagship
business site, made a pre-tax loss of GBP 2 million last year, it was
revealed today.
The business park, next to the Gyle in West Edinburgh, is run by
New Edinburgh Ltd (NEL), a joint venture between Edinburgh City
Council and Miller Group.
It has been hit by an ongoing downturn in the market for office
rentals across the UK and saw no new lettings at all in 2003.
NEL reported turnover of just GBP 15,324 for 2003. Turnover in
2002 was considerably better at GBP 11.7m, but still a disappointment
when compared to the GBP 30m reported by NEL at the turn of the
decade.
NEL disclosed that the GBP 2m pre-tax loss for the year to ...