Property investment activity in Scotland reached £930m in H1 2025, a 20% increase on the same period last year, according to Colliers’ latest Scotland Snapshot.
However, the £370m invested in Q2 was down on the Q1 figure of £560m and 22% below the five-year quarterly average of £470 million.
Retail was the most popular asset class with £150m of deals recorded in Q2 2020 – a significant increase on the £40m transacted in Q1. Activity was boosted by the sale of the St Enoch Centre in Glasgow (pictured) for circa £50m
Offices accounted for £100m of the Q2 total – the weakest quarterly figure for more a year – although the £230m of transactions in H1 2025 was 14% above the corresponding figure for H1 2024.
Industrial investment in Scotland remained muted in Q2 with under £30m transacted – 69% below the five-year quarterly average of £80m.
Douglas McPhail, head of Colliers Scotland, said: “Scotland isn’t immune to the geopolitical and economic uncertainty affecting the whole of the UK commercial property market. While there were some stand out deals this quarter, the sense of momentum hasn’t yet returned to the market as a whole. Encouragingly when looking across the first two quarters, volumes are still ahead of 2024 levels, hopefully pointing to a stronger full year total.”
