Edinburgh commercial property deals worth £500m - commercial mortgages

22 December 2006

Investors in commercial property in Edinburgh, such as those with commercial mortgages, are expected to see the value of transactions exceed £500 million in 2006.

According to a report by property firm Jones Lang LaSalle, the value of transactions has already overtaken the figure recorded last year, when property deals totalled £334 million, the Scotsman reports.

Commenting on the trend, Jones Lang LaSalle stated that the commercial property market has benefited from "exceptional" demand from tenants and performed better than many people had predicted.

"The continuing strong performance of commercial property has surprised many researchers in 2006, as it was widely felt that the property [market] would fail to outperform other asset classes after a consistent period of capital growth," the firm reported

The firm recently told the Edinburgh Evening News that occupiers from outside of Scotland were likely to seek property in Edinburgh and Glasgow, while the overall market is predicted to perform well next year.