Ryden is Scotland’s Top Industrial Agent
23 August 2010
The latest league tables published by the CoStar Group confirm that Ryden is the top performing industrial property agent in Scotland.
CoStar analysed the market activity of Scottish property firms during the period July 2009 – June 2010 and identified Ryden as the top industrial agent in Scotland for number of instructions, number of transactions and floorspace available.
Outperforming its competitors, Ryden completed 126 transactions (equivalent to a 13.8% market share) and has over 6 million sq ft of industrial space available (a 16.3% market share).
The league table also showed that the firm let or sold over 1.196 million sq ft of space during the researched period.
Commenting on recent market activity in East Central Scotland, Neil McAllister, partner in the Edinburgh Industrial team said: “The number of deals completed since the early part of 2010 has been very encouraging, with the majority of activity within the small to medium sized market. Rents range from £7-£7.50 per sq ft for prime property, with the standard incentive in the region of 6-9 months for a five-year lease term. This is very similar to what was achievable at the peak of the market in 2006/2007. However, demand for larger buildings remains limited and there continues to be an over-supply of large scale secondary accommodation.”
Commenting on West Central Scotland, Alan Gilkison, partner in the Glasgow Industrial team noted: “The industrial marketplace remains active and is showing resilience, despite the slowdown in the wider economy. For larger units, distribution companies still dominate the market and continue to seek flexible terms to meet individual contracts. Encouragingly, we are experiencing demand from manufacturers, the majority being food and drink companies. In the small to medium size market there continues to be a lack of supply of modern buildings in good locations.”
Paul Richardson, associate in the Aberdeen Industrial team added: “The Aberdeen market remains active despite the slowdown in the wider economy due mainly to the stability of the North Sea Oil and Gas industry. Most notably, take up in the small to medium sized market is up 124% over the last six months. Rental values have remained firm, although tenants are increasingly seeking shorter terms and flexible leases, which is generally due to contract led requirements. Demand for larger premises remains strong even though there continues to be a lack of good quality accommodation within this size range. This problem should be alleviated as a number of local developers undertake speculative industrial developments.”
