scotland |


EDINBURGH TOPS LIST OF MOST INFLUENTIAL SMALL CITIES IN EUROPE


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dinburgh has been ranked first among its peers by Colliers International’s latest European Cities of Influence report. The Scottish capital was 7th overall and the highest placed of those with a population catchment below 2 million, while Glasgow placed 24th overall.


It follows the news last week that


Edinburgh also topped Colliers International’s UK Hotels Market Index, which ranks ‘hot spots’ for hotel development and acquisition across the country.


The Cities of Influence report reviews and ranks cities based on their occupier attractiveness, availability of talent, and quality of life factors, alongside economic output and productivity. Edinburgh was the highest ranking UK city in terms of ‘employee aspirational’ factors.


Douglas McPhail, head of Colliers International in Scotland, said: “Scoring highly for its economic output and the availability, talent and aspirations of its workforce, it’s not surprising that Edinburgh has outperformed most commercial property markets in recent years. It is significant that the positions in our Cities of Influence index this year mirror investment volumes over the course of 2017, suggesting that investor activity is becoming closer aligned to broader, long-term drivers of


VARDY VENTURES


ardy Ventures is currently constructing a 17,500 sq.ft modern industrial building on a speculative basis. Vardy purchased the site in the summer of 2017 and applied for planning consent for the scheme whilst promptly demolishing the existing office building. Angus Thomson of letting agent


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FT Linden comments “Due to the lack of supply of quality industrial space and the lack of speculative development, we are confident in securing a pre-let and some quick lettings once construction is complete in May 2018.


There is robust demand for quality industrial space close to Edinburgh City Centre, particularly for smaller trade counter units. We are speaking to a number of potential occupiers on this but are still able to offer units from 1,875 sq.ft to 17,500 sq.ft.”


COMMERCIAL PROPERTY MONTHLY 2018


Further information Angus Thomson MRICS 0131 226 6287


angus.thomson@ftlinden.com


occupational growth. “In Edinburgh in particular, with its


exceptionally strong fundamentals, investment activity is expected to increase further going forward. However, when compared to the German Big 7, and the major Nordic capitals, most UK cities look significantly under-invested. Given its occupier strength and growth potential, Glasgow should see investment growth too, although it struggles to compete with Edinburgh on aspirational factors.” The 2018 index ranked London as


the most attractive city in Europe for a second year running, with Paris, Madrid, Moscow and Birmingham making up the rest of the top five. This year’s new extended version of the report looks at 50 major European economic hubs – building on the twenty cities covered in the inaugural report – providing a broad geographic coverage of European markets that are of global, regional and national importance. Peter Leyburn, EMEA Director of Client Services at Colliers International, added: “Office occupier strength is the engine room for a city economy and as a driver of all other forms of real estate demand: be it retail (and thus logistics), hotels, leisure and residential. “


Lewis Pentland 0131 240 7500


lewis.pentland@colliers.com


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