Scottish Office Market

Scottish office market
Scottish Office Market

31 May 2017, by Mike Barnes

We expect a number of larger, high profile office buildings in Glasgow to become available in 2017, and we anticipate a more balanced investment picture across the Scottish cities

■ The Scottish office market has seen stable levels of take-up during the first quarter of 2017. Total take-up for the Scottish cities reached 573,718 sq ft, in line with the quarterly average.

■ Savills forecast office take-up for the key Scottish markets to reach a combined 1.7m sq ft for 2017, 17% above the total take-up during 2016, driven largely by an improving Aberdeen market, with stable levels in Edinburgh and Glasgow.


■ We expect top rents to remain stable in the Glasgow and Aberdeen markets at £30 per sq ft and £32 per sq ft respectively. Edinburgh is forecast to see a 1.5% rise to £34 per sq ft by the end of the year, driven by new product coming onto the market.

■ Scottish office investment reached almost £125 million during the first quarter of 2017, around 31% down on the five-year quarterly average, with a balanced spread across the key Scottish cities.

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Scottish office market

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Mike Barnes

Mike Barnes

Research Analyst
Commercial Research

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+44 (0) 20 3107 5459


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Stuart Orr



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