Commercial investment in Edinburgh to top £1 billion

Waverley Gate and other areas have aided commercial income. Picture; Phil Wilkinson
Waverley Gate and other areas have aided commercial income. Picture; Phil Wilkinson
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commerciAL investment in the Capital is on course for a bumper year, according to new figures.

Almost £480 million was spent on Edinburgh office space in the third quarter of the year, Savills said.

It brings the total to £1.04 billion for the year, the highest total recorded by this stage of the calendar since 2007.

Key deals included Aberdeen Property Investors buying Dundas House for £25m and TRUIVA purchasing Waverley Gate for £63m.

Rod Leslie, associate director in the investment team in Savills Scotland, said: “A move by investors to redistribute money away from the more volatile stock markets, lower yielding gilts and riskier equities, together with an improved debt market and stabilised liquidity within the retail funds, have all combined to maintain a healthy level of investor activity in Scotland’s real estate sector.

“Commercial property continues to offer a compelling income return when compared to other asset classes.”