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News Release

Scotland

Scottish Independence Referendum - Scotland votes ‘No’ to independence from the United Kingdom

Alasdair Humphery, Lead Director for JLL in Scotland comments on today’s result


Scotland, 19 September 2014 – “Today’s result will provide a welcome boost to Scotland’s property market. Uncertainty surrounding the possible outcome of the Referendum has undoubtedly been a factor in the decision making process for many potential
occupiers and investors, although some will continue to hold back commitments until there is a clear indication of what that result means for Scotland and wider United Kingdom.

Following today’s result, I am optimistic we’ll see more confidence returning to the market and an increase in activity from international occupiers, some of whom had previously been reluctant to progress expansion plans.

The constitutional and fiscal changes that will occur if Scotland is granted 'devo max' are at this early stage an unknown quantity. We will clearly be keeping a close eye on proposals for further devolution of powers, and what these might mean for our clients not only in Scotland but across the UK. However, the devil is in the detail, and much of this detail has yet to be worked out.

We’ll be monitoring developments over the coming months to form a better sense of what the Scottish property
market will look like for our clients and how we can best advise them to plan for the future.”