Commercial property deals double to £307m

By PERRY GOURLEY
Published on 18/11/2012 00:00

INVESTMENT deals in Scottish commercial property over the past quarter have more than doubled to £307 million in a tentative sign the sector may be improving.

A particularly strong market in Aberdeen helped take the total figure for offices purchased by investors – the 
most active property class 
during the quarter – to £234m during the third quarter of the year, according to property consultancy CBRE.

Although the investment figure was substantially higher than in the second quarter, it is still down on the same period in 2011 and CBRE director Aileen Knox said the market outlook remains uncertain.

The largest deal of the quarter saw F&C acquire the Prime Four Business Park in Aberdeen for £94m, and the total for investment transactions in the city so far this year is higher than in any 12 months in the past decade.

The best-performing property class in terms of returns during the period was industrial premises.