Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONDON-A slowdown in the office market helped drag down rental growth in the Scottish commercial property during the first quarter of 2003, according to Insignia Richard Ellis. All property rental growth declined to -0.1%, but sustained capital growth meant that the total return on Scottish property remained strong at 9.3%.

IRE’s Scottish Quarterly Index showed that it was the office market that suffered during the quarter, with rental growth rates tumbling 0.23% to -0.2%. But this is still considerably more healthy than the UK average, where rental growth now is now running at -8.7%.

Many of Scotland’s prime retail pitches are currently oversupplied with available units, which means that rental growth has stalled at 0%, below the UK average of 2.3%. And rental growth in the industrial sector is also declining, down from 2.2% to 0.5% over the past six months.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.