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The commercial property market in Scotland covers some £51bn of shops, offices, industrial premises and other commercial properties. Latest estimates from research commissioned by SPF from GVA Grimley suggest that its contribution to the Scottish economy is equivalent to 8.5% of gross valued added (a similar measure to GDP).
The industry is complex and is influenced by regulations, legislation and professional practices. Taxation, invesment, commercial lease practice, landlord and tenant regulations, arbitration and services charges are all key issues.
The SPF believes that significant improvements to the commercial property market in Scotland should be sought. For this purpose, SPF is engaging with civil servants, professional bodies and the property standardisation group with a view to achieving improvements in the Scottish commercial property market. A group led by David Smith, leasing director for Scotland at Land Securities group and involving a number of key Scottish commercial property companies and advisors is leading this process. Full details of the wqorking group membership are:
Mark Stirling (British Land Company), Myles White (Henderson Global Investors), Eddie Jenkins (Standard Life), Alastair Kay (Kenmore Property Group), Andrew Appleyard (Morley), Will Cottmore (PruPrim), Caroline James (Tods Murray), Iain Doran (Dundas & Wilson), Ann Stewart (Shpeherd & Wedderburn), James Dobie (Shepherd & Wedderburn), David Ratter (Biggart Baillie), Ronnie Brown (Biggart Baillie), Kenny Waitt (Jones Lang la Salle), Fiona Morton (Ryden), Robin Garrett (Maclay Murray Spens), Virginia Beckett (CBRE), Brian Chrystal (First Title), Douglas Smith (CBRE) and Peter McCall (Kenmore Property Group). |
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