Planning applications have been lodged with Glasgow City Council in conjunction with the £150 million redevelopment of Shawlands Arcade on Kilmarnock Road in southside. Planning has been submitted by the Arcade’s owners Clydebuilt, a property investment and development fund co-owned by Strathclyde Pension Fund and Ediston Real Estate.
The impact of COVID-19 and the subsequent lockdowns has resulted in an unprecedented shift by employers towards adapting a more flexible working policy. Whilst many companies have now enacted formal hybrid working policies and appear to be moving away from the traditional office unit set up, Scottish commercial property has had its best first half of the year for investment volumes since 2018.[1] As we move forward from the pandemic, we consider its continued impact on the commercial property market.
The impact of COVID-19 has undoubtedly accelerated a shift in consumer behaviour towards online shopping. This increase has resulted in an unprecedented time for traditional shopping centres like Buchanan Galleries and the St Enoch Centre, with many shoppers now opting to do the majority of their shopping from the convenience of their own home.
The sharp rise in energy costs has undoubtedly been one the major talking points of 2022 so far. The hike in prices has not only been felt by home-owners, but also by commercial property proprietors and tenants alike. With no sign of energy prices falling, the energy efficiency of commercial buildings is becoming an increasingly important consideration when buying, selling or leasing.
