Scotland office market starts strong in Q1, drops in Q2

This year got off to a strong start in Scotland, which saw office take-up during the first quarter in the core markets (Aberdeen whole market, Edinburgh city center and Glasgow city center) of 87 percent higher than first quarter 2019 and 7 percent above the five-year first quarter average, reported Savills.

During the second quarter, however, COVID-19 and the accompanying U.K.-wide lockdown brought significant disruption to all three core office markets. The second quarter saw only 66,521 square feet of office space signed across core Scotland, reflecting an 85 percent decrease on the five-year quarterly average. First half 2020 office take-up, therefore, totaled 509,212 square feet — 19 percent below first half 2019 and 41 percent below the first half five-year average.

To read the full report, click here.