SCOTLAND’S ability to attract companies to set up operations in the country risks being hampered by the slowing supply of Grade-A office space.
Accountancy firm Grant Thornton has warned the long-term growth of the commercial property sector will come under threat if the demand for high-quality office accommodation continues to outstrip supply.
According to the firm, no new speculative office developments are expected to come on stream until late 2019. it suggests this has prompted fears political and economic uncertainty has led to developers holding back on new projects, despite rising rents and growing demand for office space.
Lorraine Macphail, head of property and construction at Grant Thornton, said: “Rising demand for prime Grade-A office space in Scotland is clearly a positive sign that the country’s economy remains resilient and focused on growth.
“But, a complete lack of suitable accommodation in our major cities could have significant consequences.”
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