Scottish commercial property remains on the up | 22 November 2013
Scottish commercial property continues to offer increasingly good returns, according to new research.
A study conducted by CBRE indicates that commercial property across the country offered average returns of 2.1 per cent in the third quarter of this year, up from 1.5 per cent in the previous three month period.
This was driven by improved quarterly performances from offices, retail space and industrial buildings. According to propertywire.com, it’s the first time that all three commercial property sectors have shown quarterly improvements since 2010.
The study suggested that Edinburgh was enjoying its strongest year in a decade in terms of office take-up. Office space in the capital city is currently offering average returns of 4.6 per cent, while asking prices have jumped higher than in any other UK city outside London and the South East.
Aileen Knox, who is a senior director at CBRE Scotland, suggested that Scotland was slowly becoming the next best UK commercial property market outside of these two traditionally popular regions.
In a recent interview with business7.co.uk, she said: “Commercial property transactions continued to increase during the last quarter, pushing the year-to-date sales to £782 million. There are definite signs of recovery although it is a slow process.”
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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