Ryden, one of the largest independent commercial property consultants in Scotland, has published the 84th edition of its Scottish Property Review.
Offering an in-depth analysis of the Scottish office, industrial, retail, leisure and investment property markets; the report tracks trends over the past six months, and how external factors have impacted the industry.
Mark Robertson, Ryden Managing Partner and Scottish Property Review editor, commented: “Demand for good quality office and the industrial stock continues to be robust, and the development market is now responding with several projects completing or on site.
“Despite this, there is still an insufficient choice of modern premises in the Industrial property sector, and Aberdeen is still facing challenging times until the optimism created by a more stable oil price filters through.”
According to the report, Scotland’s economy is delivering steady but subdued growth, although take-up has inevitably receded after last year’s substantial pre-lets.
In Edinburgh, the volume of activity saw a significant increase, while the Aberdeen office market was seen as a low point.
Meanwhile, the West Scotland industrial market is heading towards a record low level of availability; comparatively, East Central Scotland remains resilient due to the diminishing levels of industrial property, which is causing landlords to undertake speculative refurbishments.
Roberston concluded by noting that: “The outcome of Brexit negotiations will undoubtedly influence how the rest of the year will play out, but the Scottish commercial property market offers substantial performance opportunities for those investors able to look beyond the immediate uncertainties and grasp the thistle!”