| Item | Q2 2015 result |
|---|---|
| Aberdeen commercial sales | £201m |
| Edinburgh commercial sales | £231m |
| Scotland commercial sales | £963m |
| Number of commercial deals in Scotland | 956 |
| Number of high-value deals | 34 |
The value of commercial property transactions in Aberdeen reached a three-year high in Q2 2015, with £201m of sales.
Figures from the Registers of Scotland, analysed by the Scottish Property Federation, show that in Aberdeen, three transactions alone were worth £178m, one of which was suggested to be the final registration of Legal & General’s purchase of the 335,000 sq ft headquarters of oil company Aker Solutions for £127m.
Edinburgh also enjoyed a strong quarter, returning the highest value of sales in Scotland in the quarter, worth £231m.
The figures reveal that across Scotland, the value of commercial property sales increased by 56.6% from Q1 2015, to £963m.
The SPF said that this surge could be attributed to a slowdown in investor confidence in the run-up to the UK general election in May.
The volume of sales in Scotland also increased by 11%, from 854 in Q1 2015 to 956 in Q2. There was a particular increase in higher-value transactions worth more than £5m, which rose from 23 in Q1 to 34 in Q2.
David Melhuish, director of the Scottish Property Federation, said: “While the general economic commentary surrounding Aberdeen has focused on the impact of falling oil prices, it is striking to see that its commercial property market is going against the grain and retaining significant investment.
“Aside from the dip in value that we saw in the last quarter, which could well be attributed to pre-election uncertainty, figures over the past year show that Scotland’s commercial property market as a whole is growing in strength and value. This is reflective of wider economic commentaries, which have reported a growth in business confidence in Scotland.”
