City eateries in high demand

Markets generally ‘remain fairly positive’, agent says

• Property firm Christie & Co recently handled the sale of Moray pub, The Coulard Inn.

DEMAND for restaurant units in city centre locations “far outstrips supply”, according to property firm Christie & Co’s Business Outlook 2017 Report.
The agent said Edinburgh, Glasgow, Inverness and Dundee are the areas experiencing the highest levels of demand. In particular, larger units over 3000 sq ft continue to be sought by corporate chains, while smaller units are “prime targets for individual or multiple private operators”.
Similar trends are surfacing in the pub sector too, according to Christie & Co.
Corporate chains continue to “dominate” the trade landscape, according to the agent, which said there has been a 45% increase in branded food pubs over the last five years.
High demand in Scotland’s cities has also been observed in the hotel sector.
Demand for properties in the two “principal hotel hubs” of Glasgow and Edinburgh is said to remain strong, with a high number of transactions in 2016, which the agent said is “highlighting continuing high levels of demand, from large corporate hotels to smaller independently-owned businesses”.
Overall, the agent said that while factors like Brexit and the possibility of another independence referendum have impacted on the property sector, in general, “markets remain fairly positive”.