Clear signs of a robust economy? 15% increase in Edinburgh office take-up in 2017 and Glasgow set for a ‘stellar 12 months.’

flexibile-office-space

(c) lenlothian.com

The strength of the Scottish economy has been shown in numerous reports here, based on increased GDP in the First Quarter, four time that of rUK, lower unemployment than rUk consistently throughout the year, higher business confidence, big reductions in insolvencies, Scottish cities identified as best and second-best places to start a business in different surveys, increased exports and consistently positive balance of trade figures, new oil discoveries, record renewable energy output and even, more dolphins. I’ll leave you to search the site for evidence of these, this time.

Another obvious sign of good economic health is office space take-up. The Scottish Business News Network has reported on developments in Edinburgh and Glasgow. Edinburgh has exceeded the annual average, with two months still to go, by 15% on the previous year.

https://sbnn.co.uk/2017/10/30/edinburgh-office-take-up-well-ahead-of-annual-average/

In Glasgow, demand for office space in 2017 has been lower than in Edinburgh, but research by JLL estate agents are predicting very high growth in Q4 and in 2018. See this from sbnn:

‘Office activity in Glasgow slowed in the three months from July to September due to a lack of new developments, according to new research by JLL. But with significant public-sector office deals expected to land in the final quarter of the year Glasgow’s office market could be set for a stellar 12 months well above five-year averages.’

https://sbnn.co.uk/2017/10/27/calm-third-quarter-sets-up-storming-year-end-for-glasgow-office-market/

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