Recently in Scotland Category

Glasgow's serviced office market is up nearly a quarter in the first nine months of this year. But is it today's entrepreneurs / tomorrow's captain's of industry, taking space or the same old firms shrinking?

Figures released today by officebroker.com - and seen here for the first time - show that the number of businesses signing up for space in the city is up 24% on the same period a year ago.

But, they are signing up for less space. The report says that tenants are taking 40% less space (just under five desks) when compared to a year ago.

What's unclear in the report is whether these are fledgling firms being drawn to the local market (a good thing - little acorns and all that) or whether it's the same firms that have always eyed the city as a good location simply needing less space (decidedly less good).

Officebroker think it's the latter. It hopes that the figures show an 'influx of smaller, less established firms, hoping to get a foothold in the city'.
 
Yes, officebroker would say that, but the final quarter of this year might hold the key. It says Q4 is typically the strongest in terms of new entrants to the market. If those figures are up maybe Glasgow really is at the start of something good, and, as companies grow, put down roots then that's a boost for all those office agents with space to let.

Prices are on the way up, indicating that there is strength in the market. The average cost per workstation has risen to £231 per month (up £11), which, says Chris Meredith, head of UK sales at officebroker.com, means that costs now: "sit just above the Scottish average which indicates that a central Glasgow postcode is something business owners are willing to pay a little extra for."





Offices
Analysis of market conditions and prospects in Glasgow and Edinburgh.
Contact: Lisa Pilkington, Scotland correspondent, 07771 673 458, lisa.pilkington@estatesgazette.com

Retail
Analysis of market conditions and prospects in Glasgow and Edinburgh
Contact: Stacey Meadwell, regional editor, 020 7911 1819, Stacey.meadwell@estatesgazette.com
* Please note Stacey is on holiday from Monday 15 Oct to Friday 19 Oct inclusive and will be working on the piece on her return*


Development
Analysis of prospects and opportunities
Contact: Helen Hamilton, freelance writer, 01568 709155, hamiltonhelen7@gmail.com


Investment
Analysis of prospect and opportunities
Contact: David Thame, freelance writer, 01544 262 896, dthame@clara.co.uk

Market health check
Number crunching and predictions for offices, industrial and retail across Edinburgh, Glasgow and Aberdeen. Contact: Stacey.meadwell@estatesgazette.com
* Please note Stacey is on holiday from Monday 15 Oct to Friday 19 Oct inclusive and will be working on the piece on her return*

Scottish independence, overseas inward investment, the state of the economy and the fragile Eurozone's affect on the UK were all subjects hotly debated at at last night's Property Question Time event held in Glasgow writes Lisa Pilkington.

Hosted by the Glasgow Property Professionals organisation and sponsored by DWF Biggart Baillie and the Estates Gazette, guests braved the elements to hear an expert panel debating the hot topics of the day.

Opinion remains divided on the thorny issue of independence and whether the Scottish investment market is experiencing resistance from investors due to a lack of certainty on the subject. Panellist and investment partner at agent Ryden, Steven Gay, didn't think independence will deter investors from south of the border or overseas. 

"There certainly was resistance from fund managers to invest in Scotland this time last year but attitudes have changed. I think they will probably do limited investment until 2014," he said. 

It's a big year for sport. The London 2012 Olympics, Euro 2012 are all sporting highlights to look forward. But there's one event that should be on every property company's calender and that's the annual Buccleuch Property Challenge writes Lisa Pilkington.

This year, Estates Gazette is delighted to be teaming up with Buccleuch Property as the event's media sponsor and we want to see you there.

The no-nonsense team building event will take place on 7th September at the Duke of Buccleuch's historic Drumlanrig Castle and Queensberry Estate in Edinburgh.

The perennially popular event will feature up to a hundred teams made up of property professionals from across the UK and this year it will be in aid of Maggie's Cancer Caring Centres, as part of a year-long fundraising campaign by the Edinburgh-based company.

Teams will endure a six hour test of mental and physical endurance, split into three stages. These include a 50km cycle, kayaking and an orienteering course on foot (I'm worn out just thinking about it) and finishes with prize giving and a BBQ for all participants (that's better).

A variety of other fundraising activity will be held before and after The Buccleuch Property Challenge in September to try and raise more than £10,000 for Maggie's.

Buccleuch MD David Peck says the firm chose to support Maggie's this year as it plays a crucial role supporting cancer patients across the country. "Having now visited the centre in Edinburgh I have been able to see at first-hand the excellent job that the people at Maggie's do and the unique environment that the centre has created."

So if you, your colleagues and clients are up for a challenge it's time to step up. I'll be covering the event - see you there!

Pic cap from left to right: James Macleod, Buccleuch Property Finance Director, Nick Waugh, Buccleuch Commercial Property Director , David Peck, Buccleuch Property Managing Director

Sunderland may be the worst place to do business in the UK. The North East city came bottom of Centre for Cities report today which analysed amongst many -many-other things the number of businesses opening and closing. 

It saw a 5.6% drop in its churn rate (which tracks businesses opening and closing against the total amount of business stock. 

It was closely followed by Plymouth, Mansfield and Middlesbrough.  

Aberdeen surprisingly was the only city to see more businesses open than close which might give some of the pro-devolution camp in Westminster pause for thought. 

London continued to be the power house of the UK. It was named best business location seeing the most companies opening up and having the most business stock. 

You can read the full report here.

Picture by pauldwaite on Flickr