The long established Bowfield Hotel and Country Club is on the market through Graham & Sibbald for £2.75 million.
The leisure complex has 23 bedrooms and is set in 15 acres. It has a full range of facilities, such as a swimming
pool, squash court and art leisure complex and is only 17 miles from Glasgow city centre.
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
Welcome to the news blog of the Commercial Property Register. The Commercial Property Register website is the essential guide to business property to buy and for rent in the UK. Our website lists some 6,000 available business properties for sale and to let in the UK concentrating on the following areas - London, Scotland, Manchester & the North West, Leeds & Yorkshire, Birmingham & Midlands, Bristol & The South West, The South Coast and the South East.
Wednesday, 1 December 2010
Developers Choose Residential
While the recession has hit office development hard in Edinburgh with only one scheme under construction, the residential side is more robust with the Drivers Jonas Crane Survey reporting 16 new schemes being built. There is only one commercial scheme due for completion in 2011, the 5,106 sq.metres building on the Shawfair Business Park which is pre let to the Scottish Qualifications Authority. Drivers Jonas reports that the large amount of space that came onto the market in 2009 is being whittled down so that the vacancy rate is now 7%. So clearly there is a shortage of Grade A space looming in 2011 and 2012.The public sector has played a large part in the new lettings this year. As is to be expected in such a situation, tenants are in control so that landlords have to fight for deals, hence a 10% decline in prime rents to £279.76 a sq.metre. The worst could be over with Drivers Jonas forecasting stable rents and a decline in incentives in 2011. One thriving sector is student accommodation where developers and investors are particularly active at the moment. Drivers Jonas commented: “With a large student population and increasing international student population, demand in the city remains strong.”
At least there has been more activity in the business parks with the Royal Society for the Protection of Birds (RSPB) relocating to Edinburgh Park at 2 Lochside View. Duncan Orr Ewing of RSPB said: “As a conservation charity concerned about climate change, we have targets for reducing our carbon emissions and a more efficient office will help us in part of these efforts.”
Most of the deals in Edinburgh have been small, although Edinburgh Technopole continues to attract new tenants. The latest is Lead Generator whose Ian Murphy said: “Dealing with clients such as KPMG and Genesis Scientific was the driving force behind our move to the Technopole as Bush House provides the state of the art technology required to fulfil my clients’ day to day demands.”
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
Scottish Commercial Property News in Brief 2
In the 100,000 sq.ft. plus “Big Shed” end of the market, whilst many occupiers defer making decisions about relocating
or expanding, we are seeing signs of activity from Third Party Logistics firms (3PLs) as new contracts are being tendered. Interest is also coming from companies seeking to consolidate various sites under one roof to facilitate cost savings, with some looking to take advantage of lease expiries and breaks.
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
or expanding, we are seeing signs of activity from Third Party Logistics firms (3PLs) as new contracts are being tendered. Interest is also coming from companies seeking to consolidate various sites under one roof to facilitate cost savings, with some looking to take advantage of lease expiries and breaks.
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
Foreigners are Buying
What is interesting about the investment market in Glasgow is the extent of foreign buying as illustrated by two recent deals. The German fund, Union Investments, has bought the 6,305 sq.metres (67,874 sq.ft.) Equinox building for its Unilmmo Deutschland fund for an estimated £28.3 million. Another German fund, SEB Europe REI, has bought an 8,952 sq.metres (96,366 sq.ft.) property in St Vincent Street from the Scarborough Group for an undisclosed price. The property is leased to the Bank of Scotland.
The other substantial deal in Glasgow saw a client of DTZ Investment Management, represented by Knight Frank, buy the 3,270 sq.metres (35,197 sq.ft.) 133-137 Buchanan Street for £21.2 million for a yield of 5.5%. The building has a mix of offices and shops. Tony Gibby of DTZ Investment Management commented: “We feel that Glasgow and Edinburgh are showing good value at present and with a further £600 million to spend across a number of clients, I expect there to be further acquisitions north of the border. We are still looking to acquire similar assets in Glasgow, Edinburgh and across the rest of the major cities in the UK.”
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
The other substantial deal in Glasgow saw a client of DTZ Investment Management, represented by Knight Frank, buy the 3,270 sq.metres (35,197 sq.ft.) 133-137 Buchanan Street for £21.2 million for a yield of 5.5%. The building has a mix of offices and shops. Tony Gibby of DTZ Investment Management commented: “We feel that Glasgow and Edinburgh are showing good value at present and with a further £600 million to spend across a number of clients, I expect there to be further acquisitions north of the border. We are still looking to acquire similar assets in Glasgow, Edinburgh and across the rest of the major cities in the UK.”
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
Business Parks Healthier
As in Edinburgh, the out of town business park has returned to some semblance of health in Glasgow. At Glasgow Business Park, Autoglass has pre let a 1,858 sq.metres while Toyota Material Handling has taken a much smaller space at the Glasgow Trade Park. At the other scheme on the business park, Parkway Point, Ryden has concluded terms on four units and has a further two under offer. Ryden’s Gregor Harvie said: “Enquiries are strong for the remaining space.”
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
Scotish Commercial Property News in Brief
Hammerson has planning permission to extend its big Silverburn Shopping Centre by 7,725 sq.metres of retail and leisure space. At the moment Silverburn is Scotland’s largest purpose built shopping centre with 100 stores and restaurants and expects to attract 14.5 million shoppers this year. Hammerson jointly owns it with the Canada Pension Plan Investment Board who bought the complex for £297 million.
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
Testing Investors
A test of the strength of the investment market will come with the 14,725 sq.metres (158,500 sq.ft.) New Uberior House, Edinburgh, which is being sold after a year’s ownership by Invesco Real Estate. The asking price of £64.7 million is an increase of £10 million on the purchase price and represents a yield of 6%. It has a good covenant as the headquarters of the Bank of Scotland, now part of the Lloyds Banking Group, with 15 years remaining on the lease. Henderson Global Investors is also selling, this time the 33,542 sq.metres (361,057 sq.ft.) Pyramid Business Park located close to the M8 motorway in the Central Belt for £15 million. Kenny Waitt of Jones Lang LaSalle commented: “The business park is an excellent investment opportunity, in a prime location easily accessed from Glasgow or Edinburgh. There is scope for an investor to add value through active management, including the opportunity to increase income by securing new tenants or considering redevelopment.”The Scotland Commercial Property Register
The Scotland Commercial Property Register for Sctoland is a leading UK business property publication from Martin Austen Publishing. The aim of the publication is to offer a simple and effective means of finding Offices Space, Serviced Offices and Commercial Property in Scotland . You can also find the latest commercial property news for Scotland.
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