The commercial property industry in Scotland puts a roof over the head of Scottish business.

In total, the value of commercial property is estimated at some £51billion. We estimate that the industry contributes some 5.7% of GDP – equivalent to over £5billion per annum - and provides employment for some 85,000 people either directly or indirectly.

Commercial property developers also contribute towards local infrastructure projects, where agreed with local authorities. These agreements are intended to mitigate the consequences of development and may, for example, involve improving accessibility for communities or providing funding towards essential infrastructure such as primary schools or affordable housing.

The provision of new commercial, retail, residential and industrial properties is a vital element in growing Scotland’s economy and prosperity. At the same time, it is also essential that the existing commercial property stock is re-developed and refurbished, so that it continues to be relevant to the needs of modern businesses. It must also meet the demanding modern standards for energy efficiency, accessibility and health and safety.

Commercial property development and management require significant investment and funding. SPF members are strongly involved in lending and investing for commercial property purposes. This aspect of the industry is becoming increasingly important as the costs of major schemes make it necessary for joint ventures and other complex investment and development project arrangements.