We saw similar evidence in July with a massive increase in demand in Edinburgh. See:
Now Glasgow looks like following suit with levels of demand the highest since before the crash in 2007/8. According to BQ:
‘Investment in Glasgow office space has exceeded levels last seen a decade ago and could be in line for a record-breaking year, according to Knight Frank. The independent property consultancy said that the recent sales of HFD Group’s 122 Waterloo Street, which Knight Frank advised on, and St Vincent Plaza took investment in the first 10 months of the year to more than £422m – close to the 2007 total of £428m. With another £183m under offer, total investment could breach the £600m mark by the end of 2017.The previous best performing year was 2006, when investment in Glasgow offices reached £485m – records are only available dating back to 1999. The 10-year average is £206m.’
Businesses investing in office space means more employment and, of course, more economic activity contributing to the national tax revenue and justifying the spend on public services.
Add this news to that from Edinburgh, falling unemployment levels, increased business confidence, a strong trade surplus, the boom in renewables and the resurgence of oil prices and you can only conclude Scotland is in a strong and improving economic position.
See these for evidence of these claims:
77% of Scotland’s small and medium-sized businesses report success as Scottish Government reports record numbers exempt from rates and in the wake of figures revealing much greater signs of distress among rUK businesses.