2024-02-06-莱坊-UK_Cities_Glasgow_Q4_2023_1页_261kb

Glasgow Office Market Q4 2023 Analysis Summary:

• Demand and Takeup: Total office takeup reached 113,675 sq ft, with 25 deals in the quarter. Grade A vacancy rate was 8.26%, indicating moderate supply. Annual deal count decreased by 94% compared to the 10-year average.

• Supply and Pricing: Average prime rent was £38.50 per sq ft in Q3 2023, with prime property prices averaging £3.85 million for buildings like the Aurora, located at 120 Bothwell Street, sold to a private investor.

• Investment Trends: Investor breakdown showed property companies accounting for 6% of deals, private investors 23%, and overseas investors 71%. Capital values experienced a significant decline, with yields expected to rise from 7.00% in Q3 2023 to a forecast 7.50% by the end of 2024.

• Overall Market Activity: Commercial investment activity remains strong, though demand growth slowed. Under-construction schemes for 2024-2026 total approximately 338,049 sq ft, representing 43% of speculative projects.