Simon Morris has learned that the latest figures have revealed that Aberdeen has pulled ahead of its competitors as Scotland’s commercial property investment capital.
Simon Morris, Commercial Property Expert
As an independent, London-based commercial property expert, Simon Morris acts in an advisory capacity to UK property investment funds. Simon uses his market experience to ensure that they reap profitable returns on their property portfolios.
Simon’s experience has taught him that when it comes to any type of property investment, you follow the numbers. If a market is on the rise, there is a reason. Nine times out of ten, that is because interest is rising in that market’s viability, meaning the property in said market will prove a lucrative element to any UK investment fund’s property portfolio.
Aberdeen Beats out Its Competitors
This is why Aberdeen – the emerging capital of Scotland’s commercial property market – is the one to watch right now. Recent figures have illustrated how in the most recent quarter, Aberdeen continued to eclipse its competitors as the Scottish commercial property market to invest in.
According to The Press and Journal, the so-called ‘Granite City,’ saw the value of its property sales rise from £34million to £165million in the second quarter of 2014. This was greater than the figures for Edinburgh and Glasgow, which were both impacted by fears of over the potential effect of Scottish independence on commercial property. Glasgow in particular suffered in the second quarter, as property sales figures slipped to £58 million, from £207 million in the first quarter.
Aberdeen Property Soars despite Referendum
A British Property Federation (BPF) spokesperson commented on Aberdeen’s figures. The spokesperson said: “This resilience of Aberdeen as a centre for investment is even more impressive given the reported reluctance of some investors to commit to Scottish commercial property ahead of the referendum vote.”
Despite fears of the referendum; that it will impact Scottish business, and thus commercial property values, sales rose in Aberdeen. That is particularly impressive, given the current climate. This is why in Simon Morris’ opinion, Aberdeen could prove a lucrative opportunity for UK property investment funds right now.