Edinburgh-based investment giant Abrdn confirmed it has made a decision to move out of its 6 St Andrew Square office in central Edinburgh in stages throughout 2023.

Abrdn said the majority of its teams will move to its 1 George Street building — just a few steps away — with some staff moving to a newly designed space from within its existing offices at 1 Broadway Park, The Gyle, in the west of Edinburgh.

Abrdn said that in its Edinburgh offices it has large areas — up to 50% at times — not being used, “leading to unnecessary building and utilities costs and environmental impact.”

Abrdn said the move will deliver substantial cost savings — several million pounds a year over the remainder of the lease.

The move will have no impact on jobs.

“Like many companies, the way we use our office space has changed fundamentally since the pandemic,” said Abrdn.

“With a hybrid working model now firmly embedded, we’ve been reviewing how our colleagues use our Edinburgh buildings to connect, collaborate, and engage with clients, while taking into account our costs and environmental impact.

“The decision to relocate our teams into other Abrdn buildings in the city will make better use of space, with less impact on the environment and at lower cost.”