Overseas buyers '˜dominate' Edinburgh office market
The Edinburgh office market is dominated by overseas investors, with UK political uncertainty failing to deter interest, a new report out today reveals.
A total of 93 per cent of investment in the Scottish capital’s offices came from abroad in 2016, says the report from JLL, the Fortune 500 listed professional services and investment management firm specialising in real estate.
This figure was up sharply from 62 per cent of the Edinburgh office total in 2015, even though the city’s overall office investment volumes shrank to £355 million last year from nearly £400m in the previous 12 months.
On UK institutional caution, the report said: “Setting aside a general easing in weight of money, the continuing uncertain political landscape is causing UK institutional funds to go ‘Scotland-light’.
“There is no wholesale selling but funds are reticent to be over-exposed to Scotland in [their] portfolio weightings.”