Recently in Scotland Category

Rain fails to dampen mood at EG and RICS Scotland awards

By Nadia Elghamry on May 10, 2012 9:43 AM | No Comments | No TrackBacks

Scotland's property fraternity braved the wind and driving rain yesterday to attend the RICS' 2012 awards at the organisation's HQ in Edinburgh, writes Lisa Pilkington.

The Manor Place offices were host to the event which also saw the Estates Gazette hand out its Scotland awards by yours truly. Once again (as in many other cities around the UK) Savills secured EG's property adviser of the year. While Miller Developments was crowned EG Scotland property company of the year. Savills' Keith Dobson and Miller's Phil Miller were on hand to take delivery of the gleaming glass trophies.

Meanwhile, the Centre for the Scottish War Blinded was announced as the overall winner for the awards, as well as picking up the award for best design and innovation category.
 
Congratulations to all.

Are you up to the Buccleuch Property Challenge?

By Stacey Meadwell on May 10, 2012 9:01 AM | No Comments | No TrackBacks
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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


Scotland Focus synopsis

By Nadia Elghamry on March 19, 2012 9:56 AM | No Comments | No TrackBacks
Published May 19
Edinburgh offices 
Analysis of market conditions
Contact: Stacey Meadwell, regional editor, 020 7911 1819, stacey.meadwell@estatesgazette.com

Edinburgh funding 
Analysis of the funding climate for commercial development 
Contact: Nadia Elghamry, deputy regional editor, 020 7911 1849, nadia.elghamry@estatesgazette.com
 
Aberdeen
Analysis of market conditions
Contact: Lisa Pilkington, Scotland correspondent, 07771 673 458, lisa.pilkington@estatesgazette.com

Market health check  
If you think you can supply up to date office, industrial and retail stats for Edinburgh, Glasgow and Aberdeen (up to end of Q1 2012) contact stacey.meadwell@estatesgazette.com

Please contact writers directly, by Friday 20 April, for more detail about their individual features
 

Is Sunderland the worst UK business location?

By Nadia Elghamry on January 23, 2012 4:54 PM | 4 Comments | No TrackBacks
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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

Guest post: Scottish Enterprise Zones - the devil is in the detail

By Stacey Meadwell on January 19, 2012 11:51 AM | No Comments | No TrackBacks
The Scottish Government this week announced its own version of the English Enterprise Zones. There wasn't a great amount of detail to go over but there are pro's and con's to the approach.

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Anthony Aitken is head of planning at Colliers International

As is becoming customary these days, the Scottish government wish to do things differently from the UK Government. As opposed to a geographical focus of the new Enterprise Zones in England, the Scots have taken a sectoral approach. This approach had been widely hinted in various government ministers' responses to questions on the matter, so it did not present a surprise in that sense. 

There are four sectors: life sciences, low carbon/renewables (north/east) and general manufacturing/growth sectors. Whilst this provides a clear focus to the industries involved in these sectors, the detail and practicalities of the Enterprise Zones has still to be divulged. 

The Scottish government's aim is growth and jobs. The concern expressed by commentators is the focus being placed on these four sectors (which could be defined as three sectors in the true sense of the word) and will this result in other opportunities being missed.

However, whilst there will be an overarching sectoral focus for Enterprise Zones, there is in addition a very prescriptive geographical focus for each sector. The English approach varies from significant sites to conurbations and covers a far larger geographical area. The aim of Scottish Government will be to obtain clusters of industries in these sectors in these precise geographical areas that will create new jobs. Learning from the 1980's Enterprise Zones, the aim is to avoid displacement of jobs with few new jobs actually being created. 

Time will tell which approach will work. Will history repeat itself and lead to job displacement as the result of geographical focus? Or will the sectoral approach be too narrow a focus. 

In examining the precise geographical areas that underpin the Scottish Governments sectoral approach, there are clearly already winners and losers. My own immediate reaction to the sites listed was: 'Where is Fife?' 



Continue reading Guest post: Scottish Enterprise Zones - the devil is in the detail.


Guest post: cash boost for Scottish occupiers and landlords after Fife appeals committee overturn rates increases

By Nadia Elghamry on December 1, 2011 4:58 PM | No Comments | No TrackBacks
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Peter Muir, is director and head of Scottish rating with property consultants at Colliers International.

The landmark decision announced yesterday by the Fife Valuation Appeal Committee on non-domestic rates in Scotland could provide a much-needed boost to the Scottish commercial property market and could help improve cash-flow for both occupiers and landlords. 

A consortium of rating advisers, which included Colliers International, GL Hearn and BNP Paribas, successfully led evidence before the Fife Valuation Appeal Committee, on behalf of a number of landlords and occupiers at The Mercat Shopping Centre, Kirkcaldy. 

This is a milestone, in a process that may see the Committee's decision appealed by the Fife Assessor to the Lands Valuation Appeal Court in Edinburgh. 

However, if accepted or confirmed by the Court, it would in effect mean a reduction of up to 50 per cent on the values set across Scotland in 2009/10 and introduced with effect from 1 April 2010.

The implications for landlords and tenants are significant, especially from a cash-flow perspective. Occupiers will benefit from a substantially reduced rates liability, which would clearly be welcomed. A reduced rateable value will also benefit landlords while marketing vacant units, with the lower value being attractive to any interested tenants.

In the medium term, this case could see a significant increase in appeals across Scotland. Assuming any appeal is dismissed or not lodged, the decision has opened the doors to reductions, where a drop in rental value can be shown to have occurred between the revaluation date and the statutory date of 1 April 2008. Most areas granted a reduction in 2009/10 have already been appealed by agents acting for interested parties but it is unlikely these will be resolved until after the conclusion of this particular case. 

Pics: City West Edinburgh, spec development starts

By Nadia Elghamry on November 24, 2011 12:00 PM | No Comments | No TrackBacks
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Speculative developments are few and far between these days, so it's always nice to see when someone puts their neck on the line and actually starts building.

This is C&W Assets, the development arm of  J Smart & Co, City West in Edinburgh.

Work has just started on site for the 25,000 sq ft, five-storey office block, which forms park of a larger mixed-use scheme comprising 88 residential units. Floorplates range in size from 2,100 sq ft to 6,900 sq ft and 20 secure car parking spaces. Completion is due by the end of 2012.

The scheme is located on the site of the former Bank of Scotland Computer Centre on Robertson Avenue between the main arterial roads Gorgie Road and Slateford Road.

Agents Ryden (who are joint letting agents with James Barr) are betting on lease expiries in 2012/2013 to let the building. 

Pics: Edinburgh's waterfront regeneration

By Stacey Meadwell on November 4, 2011 8:54 AM | No Comments | No TrackBacks
Final day of Scotland's International Waterfront Expo yesterday and this time we took a boat tour on the Firth of the Forth to see progress on Edinburgh's waterfront regeneration and hear a bit more about the work that lies ahead.

Accompanied by leader of Edinburgh council, Jenny Dawe - who certainly has a job as tour guide if she needs one with her in depth historical knowledge of the area - we got to see development at Granton and hear about future plans and then moved onto to Newhaven to see the work done there.

You can hear more from Councillor Dawe and John Bury, head of planning at Edinburgh City council on this podcast.


Podcast: Leader of Edinburgh council talks waterfront regeneration in tough economic times

By Stacey Meadwell on November 3, 2011 7:22 AM | No Comments | No TrackBacks
Yesterday was the first day of Scotland's Waterfront Expo in Glasgow. Edinburgh, Glasgow and Dundee all got a chance to showcase their successes and talk about the challenges ahead to complete their visions.

Leader of Edinburgh City council Jenny Dawe and head of planning John Bury spoke about the new, flexible development plan for Edinburgh's waterfront as well as the importance of the TIF in keeping the project moving during the tough market conditions.

From Glasgow's perspective, Jim Fitzsimon's chief executive of Capella talked about the firms two sites in the Broomielaw area of the city and what needs to happen to bring them forward.

Click on the podcasts below to listen.

Councillor Jenny Dawe and John Bury:


Jim Fitzsimons, Capella:





Related posts from the Waterfront Expo:

#waterfrontexpo - Clyde Waterfront overview of success and what's to come

By Stacey Meadwell on November 2, 2011 2:58 PM | No Comments | No TrackBacks
*live blogging*

Jim Fitzsimons* chief executive of Capella

£1bn of investment and 1.5m sq ft of space already developed in the Broomielaw area [Glasgow] with 12,000 people now working there. Have 1.5 acre site with planning for over 200,000 sq ft space in Broomielaw area together with a couple of other schemes proposed including Goodman's plans for Central Quay (£) there is more than 1m sq ft of development planned.

As of yesterday we got permission for a leisure pavilion (£), totalling 30,000 sq ft, for restaurants and cafe bars on Broomielaw which will create a new feel to the area. Has the critical mass of workers now and hope to start on site in the New Year with completion anticipated in 2013.
 
Proposed Glasgow Fastlink goes right along the Broomielaw so that will be a great benefit.

Like to think that once we've developed our scheme the river there will become the postcard of Glasgow that people will send back home from the Commonwealth Games

Fraser Carlin, Head of planning, Renfrewshire Council
Like to think we as a local authority are in a more enlightened environment now, where we encourage development.

Highlights the success of bringing back into use 5.2 miles of waterfront, 1.5m sq ft of retail development (Braehead shopping centre).

Fastlink will get to Braehead in the future.
 
£500m invested by CSC and retailers in area and potential for a further £200m investment.

Personally hate Braehead but has great economic benefit.

David Hastings, Strathleven Regeneration Company
Lomondgate - regeneration in response to a closure of whiskey plant and result of public private sector partnership. It is where River City (Scottish TV series) is filmed among other BBC programmes. Chosen because of proximity to Glasgow and not under flight path.

In current climate it is easy to make excuses for things not happening but we have been determined not to let that happen. Secured Aggreko Manufacturing for a £20m manufacturing unit. They were initially worried about finding a site big enough so we were determined to make sure they could be accommodated and keep the jobs in the area.

Worked because of partnership and adopting a flexible approach. Key part of our learning is that a big part of regeneration is to stop degeneration. 

By April contributed £115m into economy and that was achieved without public money.

* Podcast in which Jim Fitzsimons talks in more detail about Capella's Glasgow development coming soon. Check back on the Focus blog.



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