The Scottish market has so far proved to be ‘resilient’ this year in the light of settling mortgage rates, according to Savills. Speaking ahead of his presentation to a 400-strong real estate audience at the Scottish Property Outlook Conference in Edinburgh today, Faisal Choudhry, Savill
In its preliminary results for the year ended 31 December 2022, Savills has posted revenues of £2.3 billion, a 7% year-on-year rise, and a 16% drop in pre-tax profits to £153.9m. Net cash at the group also decreased to £307.4m, down from £340.7m in 2021.
Savills: Aberdeen’s commercial property market evermore challenged with shortage of ‘best in class’ space
A two-tier commercial market has emerged in Aberdeen, where "rents and terms are holding up for ‘best in class’ buildings, but functionally or locationally obsolete buildings are struggling", according to Savills. The comments reflect activity in the last year with Savills recording
Scotland’s top-end market witnessed an extraordinary period in 2022, with a record 491 residential transactions at £1 million and above, according to Savills' latest research. This included the highest price ever paid for a residential property in Scotland, Seton Castle in East Lothian,
Investment in commercial property in Scotland this year will surpass the £2.39 billion that traded last year in a reversal of 2022’s strong start and weak finish, Savills has forecasted. In its latest UK Commercial Market in Minutes, the firm suggests low transaction volumes will remain
After a period of exceptional strength, the Scottish development land market slowed over Q4 2022 as wider market uncertainty took hold.
Savills has appointed Alistair Wright as investment director in its Edinburgh office in a move to expand its UK investment division. Mr Wright joins from CBRE where he has spent 15 years operating in the UK commercial investment market, advising both purchasers and vendors on transactions, and devel
George Hipwell has moved to Savills as the new Scottish director of its rural property division. He joins the Perth office from Davidson & Robertson where he was responsible for the rural and agency department.
The number of office lettings to complete in Glasgow in the first three quarters of 2022 reached 84, according to the latest research from Savills.
Andrew Perratt, former head of Savills residential in Scotland, will become head of residential for Savills UK, effective from January 2023. This follows his four-year tenure as Savills head of country residential, a role which saw him navigate the company’s regional network of offices outside
Savills has recently expanded its Savills Earth team with the appointment of Chris Phillips, who joins as an associate in energy based in the Perth office. Chris has over 11 years of experience in pre-planning utilities statements and engagement with utility networks to deliver electricity, gas, wat
Alastair Wood: Can Scotland’s new planning framework deliver on its environmental aims whilst supporting essential development?
While the finalised version of the National Planning Framework 4 (NPF4) has environmental considerations at its heart, Alastair Wood asks whether it will have the ability to deliver on the Scottish Government’s 2045 net zero ambitions and whether planning will still be able to support the
The Big 6 regional office markets of Birmingham, Bristol, Edinburgh, Glasgow, Leeds and Manchester reported combined take-up of just over 1 million sq ft in Q3 2022, a 23% increase on Q2 2022, making it the best quarterly take-up this year according to Savills. Across the Big 6 markets, Edinburgh re
Construction is commencing on a new 342-home neighbourhood in St Andrews where 30% of homes will be affordable. Savills Development completed on the sale of the 17-hectare site to David Wilson homes, just 1.5 miles to the south east of the historic town centre.
A buyer is being sought for the historical landmark Category B Listed property at 17-19 Union Terrace in Aberdeen. Savills, acting jointly with FG Burnett, has been tasked with the launch.