Industrial and logistics rents in Scotland are holding steady this year despite the impending uncertainty of Brexit, as businesses face a continuing tightening of supply.
The latest ‘Industrial & Logistics Rents’ report from Colliers International for H2 2018 suggests prime rents in Glasgow and Edinburgh remain at £7.50 and £8.50 per sq ft respectively for small and medium sized industrial buildings.
Iain Davidson, Director, Industrial and Logistics with Colliers International, said: “Average industrial rents have grown steadily over the last few years post-recession. Although the pace of growth has eased slightly in the last year, we anticipate continued rental growth in the short to medium term, in no small part due to the continued issue of limited availability of stock, which is currently sitting at around 5%. Despite continued political and economic uncertainty around Brexit, demand remains solid as businesses continue to seek premises, make decisions and take space. Perhaps they view uncertainty as the new certainty.”
Mr Davidson said that, during the first half of 2018, overall industrial take-up in Greater Glasgow exceeded 1 million sq ft, with a handful of deals over 50,000 sq ft. The largest letting of this year so far has been AMG Group securing 113,000 sq ft at Canmoor’s Westway Park, Renfrew. Logistics company Wincanton also just signed a new lease on 95,513 sq ft Colossus 1 at Eurocentral, downsizing from a 165,000 sq ft modern facility also within Eurocentral which Colliers International are now marketing.
Davidson added: “While there were transactions across all size bands, the majority of demand continued to be focused at the sub-15,000 sq ft end of the size spectrum, which accounted for 41% of H1 2018 total take-up in Greater Glasgow, in line with the 3, 5 and 10 year averages.”
Elsewhere in Scotland, industrial rents also held steady with levels in Aberdeen, Livingston and Stirling unchanged. While Edinburgh has remained at £8.50 per sq ft in H2 2018, this is likely to increase in the next report as new lettings conclude. These increased levels will see new build development becoming viable. Dundee and Fife continue to the most moderately priced for business needing industrial space.
DYW Edinburgh, Midlothian and East Lothian are recruiting a Project Officer to join our small team based in central Edinburgh with travel throughout the region.
We are looking for a confident communicator with the ability to work with employers, young people, teachers, parents and other partners involved in our work. The role will support the increased engagement with our regional ambitions to involve more employers in informing, inspiring and hiring young people.
Would you like to be involved in delivering a strategy which raises the aspirations and broadens the horizons in young people so they are able to make more informed and supported decisions about next steps, through and after education?
Do you have experience of working in employability, with young people and employers and possess excellent communication skills with a can do attitude?
If yes we would love to hear from you.
With the festive season in full swing and stores beginning to swell, Developing the Young Workforce Edinburgh, Midlothian and East Lothian (DYW) are asking businesses to give their time and experience to schools through the online tool, Marketplace.
Through Marketplace, businesses and education can connect simply and easily. Businesses are able to inform and inspire Scotland’s future workforce by offering skills sessions, inspiration events and career insights to help young people broaden their skills, understanding and aspirations for life, learning and work. The partnership with Founders4Schools (F4S) also means schools can make their own specific asks of business leaders to, share their career story, business expertise and passion for their industry.
Marketplace aims to makes it easy for schools and colleges to connect with business, bringing the world of work into the classroom – the importance of which is highlighted in the Curriculum for Excellence.
Michelle Fenwick, Programme Manager for Developing the Young Workforce Edinburgh, Midlothian & East Lothian Regional Group, says:
“Marketplace is a great tool for businesses to inform and inspire young people – whether by listing their own event, or making themselves available to come in to the classroom. The insights that local businesses are able to offer young people can be transformational”.
Businesses wishing to make an offer or sign up for Founders4Schools can do so at www.ourskillsforce.co.uk/marketplace and https://mywow.founders4schools.org.uk/partners/dyweme/.
Edinburgh, Midlothian & East Lothian’s Developing the Young Workforce regional group have released their Annual Report for 2016/2017.
The report details key findings and results from the past year, including the number of young people registered on The Guarantee, the number of employers to take on a Modern Apprenticeship, the value of pro bono activity, and more.
The Developing the Young Workforce regional group states their vision is “to deliver a partnership across the region which will ensure a positive destination for every young person and to transform the relationship between business, the third sector and education for the benefit of all three and for the wider regional economy.”
For the latest from @DYWEdinMidEast, follow them on Twitter.
On 8 August, exam results will be released across Scotland, and while some young people will receive good news, others will learn that they didn’t get the results they wanted.
Developing the Young Workforce (DYW) is Scottish Government’s national strategy for strengthening links between businesses and young people in education. In response to this daunting period, DYW has launched their #NoWrongPath social media campaign.
The essence of the campaign is to spread the message amongst young people that there is #NoWrongPath in life. The campaign, which will feature on DYW’s Twitter and Facebook pages, will seek to empower young people to explore their own unique potential, in a way that feels comfortable to them.
DYW is committed to reducing youth unemployment by 40% by 2021, and is keen to offer support and encouragement to young people, offering them practical guidance on the routes they can pursue to develop their careers.
Michelle Fenwick, Programme Manager, Developing the Young Workforce, Edinburgh, Midlothian & East Lothian Regional Group said:” We are aware that a lot of young people feel a tremendous amount of pressure at this time of year. The whole process of learning their exam results can be stressful, especially when they have to share them with family, friends, and peers. We want to reduce this perceived pressure by helping young people understand that there is #NoWrongPath. Many people in interesting job roles across Scotland may not have taken a linear, logical career path to obtain their roles, and equally there are others who may have taken a straight, obvious or traditional path. Few of us have everything planned out in advance, and the unexpected challenges on the way can end up bringing rich rewards.”
Throughout their forthcoming social media campaign, DYW will be encouraging employers and academic institutions to highlight the opportunities they have available to give young people as much choice as possible. In addition, DYW in Edinburgh will seek to raise awareness of ‘The Guarantee’, whose goal is to ensure that all sectors in the city work together to give young school leavers in Edinburgh the choice of a job, training, or a further education opportunity.
Please click here to view DYW’s Twitter page for #NoWrongPath.