The Future of Glasgow's Real Estate

The Future of Glasgow's Real Estate
 
Outlook for Glasgow's real estate

2 February 2017, by Savills Research

Mixed-use schemes and improved infrastructure will drive the city forward

 

■ Mixed-use schemes already in the pipeline will be driving much of the initial change, providing much needed residential, retail and office space.

■ New residential supply is primarily being delivered by the local authorities surrounding Glasgow, rather than the city itself, although large regeneration projects are supplying much needed new supply at an attainable price point.

■ Infrastructure improvements will increase competition for space within the industrial market, with smaller, well located units in high demand.

■ With retail and office demand consolidating around Buchanan Street, we anticipate that the initial focus will be on converting and refurbishing existing buildings in the central core.

■ However, brownfield sites, currently located on the periphery of the city, will become increasingly attractive as refurbishment and conversion opportunities in the core are developed.

■ Public sector investment will continue to play an important role in facilitating change in key locations through strategic planning and preparation of sites.

■ In particular, infrastructure projects that are visible and impact on peoples lives will attract private sector capital first.

■ Beyond this, access to finance will be imperative for private sector investors to assist in delivering projects.

■ The city is set to see significant change in how people live, work and socialise but ensuring that the city embraces and capitalises on these changes will be imperative in driving the city forward.

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Key Contacts

Emily Dorrian

Emily Dorrian

Associate
Residential Research

Savills Glasgow

+44 (0)141 222 4132

 

Mike Barnes

Mike Barnes

Research Analyst
Commercial Research

Savills Margaret Street

+44(0) 203 107 5459

 

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