Overseas money flowing into Scottish property

Paul Ockrim, a partner in the real estate team at HBJ Gateley, said foreign investors with cash to spend viewed the relative stability and prosperity of the UK as a reliable place to invest.

An HBJ Gateley team led by Mr Ockrim advised Trinova Real Estate on the Scottish property aspects of its £44 million off-market purchase for an overseas investor of the Lloyds Banking Group Edinburgh headquarters in Fountainbridge.

Mr Ockrim said: “London real estate is expensive to buy and maintain, so investors have looked elsewhere in the UK for good investment prospects. Scotland’s cities are vibrant, exciting and entrepreneurial, so I’d expect that overseas interest will continue to grow over the coming years.

“Over the last decade Glasgow and Edinburgh have ranked third and fourth highest in the UK outside of London in attracting commercial property investment with £5.27 and £4.88 billion respectively so it’s no surprise that these cities are able to attract investment from all over the world.”