Nowadays, the office stock in Scotland has of 6,9 million square feet of space. This availability stays at the lowest level since 2013. The market lacks ample venues as well as Grade A office space in the most sought-after country’s locations, which deters take-ups and stymies large deals. However, it’s not that bad about the state of affairs on the office market in Scotland, taking into consideration high levels of speculative developments which take place in the region, relatively steady occupancy rates and considerable resilience in the face of the Brexit event. Investors continue to demonstrate their interest in Scottish office stock, especially in the key economic centres of the country. Scotland has numerous office locations, yet, the top ones are the cities of Glasgow, Edinburgh, and Aberdeen. These cities boast the highest letting activities and are able to offer the appropriate workspace solutions to solopreneurs, small, medium and large enterprises. In order to meet the needs for high-quality office space in Scotland, many landlords upgrade the existing venues, expanding and refurbishing their accommodations. Such processes regularly take place in the local business parks, making them even more attractive for tenants. The fees for commercial property of office type in the region range from about GBP12-30 per sq.ft.per year, while prime turnkey solutions in Glasgow can be leased for more than GBP70, accordingly. Monthly packages in coworking venues are available at around GBP25-300.
