INVESTMENT in Scottish commercial property fell around 40 per cent last year in spite of booming demand for offices in Glasgow and Edinburgh. CoStar Group, the commercial property information firm, found investment in the sector in Scotland fell to £2.2bn in 2015, down 41 per cent on the high of £3.5bn recorded in 2014. Investment in Glasgow offices jumped 70 per cent annually, to £389m in 2015 from £228m in 2014. In Edinburgh investment in offices rose marginally, to £374m, the highest level since 2008. However, CoStar found investment in Aberdeen offices fell 78 per cent amid the crude price plunge, to £118m in 2015 from £526 million in 2014. Real estate analyst Grant Lonsdale said: “Assets in both Glasgow and Edinburgh are attractively priced compared to English cities. The occupational markets in both cities are strengthening and there continues to be demand for prime stock and value-add opportunities in the office sector, particularly as the next supply wave is still a few years away.” He added: “Investment activity across all sectors in Aberdeen has dropped dramatically which can be largely attributed to the collapse of the oil market.”
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