Big deals lead Scottish commercial property

Investment in Scottish commercial property hit £2.3 billion in 2017, 37 per cent ahead of the ten-year year annual average (£1.7bn), according to international real estate advisor Savills.

The total transaction volume was boosted by 36 £20 million plus deals, over double the number of deals of this size recorded in 2016.

Savills said investment last year was spread across offices, industrial, retail and lei- sure, and with a “healthy” geographical mix.

A total of £867m was invested in Glasgow (38 per cent of activity), £794m in Edinburgh (35 per cent), £174m in Aberdeen (8 per cent) and £461m (20 per cent) invested elsewhere in Scotland.

Nick Penny, head of Scotland at Savills and director in the investment team, said: “Investment in 2017 is defined by the spread of transactional activity both in terms of sector and geography, where previously prime offices in Edinburgh had dominated.”