When most people think of a commercial break it signals putting the kettle on before the next instalment of Strictly.
But if you’re a construction pro, you’ll know commercial breaks are actually a sign of growing investment in Scotland’s commercial real estate – and that’s positive for everyone in the building trade.
The latest numbers crunched by Savills suggest this year will outdo 2017’s total of £2 billion – a whopping £1.74 billion of investment has already been signed on the dotted line, with another £265 million currently under offer.
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This means volumes are well ahead compared with last year, potentially making this a boom time for commercial activity.
Office projects have been number one in attracting funding with £746 million of business in bricks and mortar.
Although, traditionally, Edinburgh has been the hot spot for such projects, according to Savills, in 2018 Glasgow saw £382 million invested in 16 deals – that’s up from £134 million last year.
And the regeneration of one key site in Glasgow city centre has taken a huge step forward with the submission of a detailed planning application for a Grade A office development by Osborne and Co.
The £95 million investment plan for Argyle Street would deliver the first major building work in the International Financial Services District for more than 20 years.
The development would be able to accommodate up to 4000 workers.
Looking ahead, the schedule of proposed developments has been hailed as the strongest in years, as investors from around the world seek to buy into the Scottish commercial office market.
Such investment in our cities is vital to growing our economy. New workplaces can regenerate huge urban areas – employees not only enjoy modern, comfortable environments but can contribute to sustaining local retail and recreational amenities.
One great example of this is Water’s Edge, a major element in the development of Dundee’s waterfront area.
Already, this innovative project – which has flexible office suites and co-working spaces – is rejuvenating its location.
The creators’ vision includes a terrace beside the water, as well as a restaurant and café where networking opportunities can happen.
Such forward-thinking projects are ideal for thriving businesses – and their creation is also great news if you’re looking to start or build on a career in the building industry.
So take your own commercial break and switch onto s1jobs for all the latest Construction/Trades vacancies.