Aberdeen property sales hit three-year high

The value of commercial property transactions in Aberdeen hit a three year-high in the second quarter of 2015, figures from the Registers of Scotland have found.

Deals completed reached a total of £201 million over the period, driven by Legal & General’s £127m purchase of Aker Solutions 335,000 square foot headquarters at Aberdeen International Business Park.

Three transactions in the Granite City were worth £178m, according to the figures.

The value of deals completed in Edinburgh reached £231m, as sales across Scotland increased by 56.6 per cent on the first quarter to £963m.

David Melhuish, director of the Scottish Property Federation, said: “Whilst the general economic commentary surrounding Aberdeen has focused on the impact of falling oil prices, it is striking to see that its commercial property market is going against the grain and retaining significant investment.

“Aside from the dip in value that we saw in the last quarter, which could well be attributed to pre-election uncertainty, figures over the past year show that Scotland’s commercial property market as a whole is growing in strength and value.”

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Source: The Herald

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