Publication

Spotlight: Scottish Office Market – May 2016

Research Article

Contacts & Related Articles

The outlook for office based employment growth in Scotland's three main office markets is reasonably good

■ The outlook for office based employment growth in Scotland's three main office markets is reasonably good, at 4.3% over the period 2015 – 2021.

■ This equates to a need for 1.3m sq ft more occupied office space than today.

■ The imbalance between supply and demand in Glasgow and Edinburgh has become slightly less acute over the last six months. However, we do not expect to see a significant rise in the availability of Grade A office space over the foreseeable future.

■ The office leasing market in Aberdeen is forecast to stay quiet until confidence returns in the oil industry, but market expectations are much more positive than they were six months ago.

■ Tenant demand for CBD office space will remain steady in all three cities, and demand for more affordable out-of-town space in Glasgow and Edinburgh is expected to rise.

■ Scottish office investments still look cheap in comparison to the English cities. This, and the solid rental growth story, will continue to attract investor interest in the prime office markets.

Articles within this publication

1 article(s) in this publication