Rising Demand for Scottish Office Space Highlighted in CB Richard Ellis Report
A report published this week by commercial property firm CB Richard Ellis has shown that the demand for office space in the first half of 2010 has strengthened, with the take-up of office in Glasgow having doubled between Jan-Jun 2010 compared to the same period in 2009.
Within Glasgow the significant office space lettings on George Street to firms including Murray & Spens and Ernst & Young, as well as the Clarion Buildings on Wellington Street to NFU Mutual are cited as the largest office lettings of the year in the Scottish city.
While the report states that the overall demand for office space in Scotland is increasing, the report also concludes that the office space market has continued to be dominated by smaller deals.
It is believed that the supply of office space available has also decreased in key locations such as Glasgow, Edinburgh and Aberdeen, a trend which they believe will continue due to very few new developments currently in the construction pipeline.