Colliers: Scottish Commercial Real Estate Faces 38% Investment Dip In 2023

Posted on: 19 February 2024

Colliers: Scottish Commercial Real Estate Faces 38% Investment Dip In 2023

In line with the wider global slowdown, investment into Scottish commercial real estate saw a significant decline in 2023, according to Colliers’ latest Scottish Snapshot.

Total investment reached £1.5 billion, down 38% on 2022’s volumes. The Snapshot shows that cross border investment accounted for 33% of all activity by value in 2023, which was also a decrease year on year with 2022 levels standing at 45%.

The report notes that it isn’t all negative and Scotland’s average 2023 PMI reading of 50.2 was higher than most English regions, Northern Ireland and Wales.

The Q4 ICAEW Scottish Business Confidence Index has highlighted that companies plan to raise their capital investment and R&D budgets faster than any other region or nation in the UK over the next year.

Retail was the best performing sector in 2023, accounting for a 34% share of all investment (£500 million), slightly down on 2022 levels but higher than the 2019-2021 totals. Offices followed at 27% (£400m) and industrial at 15% (£220m).

Read more

Share:


Recent Articles

20 June 2024

Mcgill's Buses' Zero Emission Fleet Hits 10 Million Miles

A Greenock-based bus operator is celebrating a key milestone as it hits a total of 10 million zero-emission miles – the equivalent of 400 times around the globe. McGill’s Buses boasts one of the largest fleets of electronic buses in the UK. The announcement has been made on...

19 June 2024

Offer Accepted For Former Johnstone Pub

Bowman Rebecchi is delighted to confirm an offer has been accepted for a former public house in Johnstone which recently enjoyed a substantial makeover. The subjects recently had change of use applications approved by Renfrewshire Council for Cafe (class 3), gym use (Class 11), associated...

17 June 2024

Let Agreed For Former Greenock Post Office

This traditional retail unit has secured a new tenancy in the west end of Greenock, located within the busy residential area of Brisbane Street providing a large catchment area. A former Post Office and convenience store, the subjects provide a good-sized open plan floor, with counters and...

valuation

Get an Commercial Property valuation

Find out how much your property is worth