Turning the spotlight on the famed Festival city of Edinburgh, we take a behind the scenes look at the activity in the commercial property world.
To Let and For Sale boards can be seen throughout the city as businesses continue to move in and move around Edinburgh.
Boxpod has watched enquiries on Edinburgh properties increase fourfold compared to April last year. People viewing commercial units to buy and rent in Edinburgh has jumped 135 per cent.
The capital city of Scotland has a rich and colourful history. It’s home to a Medieval Old Town, historic Edinburgh Castle, Georgian New Town and almost every other age and style of commercial property with Arthur’s Seat overlooking the city.
It’s home to the Scottish Parliament, and long-established businesses and new start ups are finding Edinburgh, with its Firth of Forth shoreline, a popular choice for offices to rent, shops, workshops, storage and industrial units to buy and rent.
Considering just how compact a city Edinburgh is with a relatively small geographical size, it is Scotland’s second most populated city and seventh most populous in the UK. With a large workforce close to hand, commercial property is in demand in the city as businesses vie for prime locations.
Investors have certainly had their eyes on commercial property to buy and let in Scotland with international investors and more recently a surge in UK investors and institutions keeping a close eye on market activity.
The Scotsman reported in May that: “With a more settled political landscape and a view that Scotland is offering slightly better value in comparison to other parts of the UK – the traditional foreign investor hotspots of London and Manchester – UK institutions are making a comeback to the Scottish market.”
According to JLL data in the first three months of this year, the total invested across Scotland’s offices, alternatives, hotels, industrial and retail sectors reached £700m, a 32 per cent increase compared to the first quarter last year.
CBRE Scotland reported a ‘challenging’ start to 2018 with the tech sector being the main source of take up in Edinburgh, as opposed to the typical financial players. CBRE highlights the fall in supply – particularly of Grade A office space in Edinburgh City Centre with just 1,100,000 sqft currently available – in Q1 2013, some 2,780,000 sq ft was on the market.
With limited availability, all eyes are on the Scottish stage. Take a look at commercial property to buy and let in Edinburgh on Boxpod.
Manage or own commercial units in Edinburgh? Advertise them on Boxpod.