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JLL in Scotland comments on changes to commercial stamp duty in England

EDINBURGH, 17 March 2016 – Alasdair Humphery, Lead Director for property consultant JLL in Scotland said: "Changes to commercial stamp duty in England could impact negatively the volume of major transactions going forward and potentially encourage investors north of the border. The introduction of a 5% rate for commercial properties above £250,000 plays in favour of Scotland's property market. At present, transactions in Scotland above £350,000 face a 4.5% rate, meaning Mr Osborne's announcement grants Scotland's commercial property market a rare competitive edge, which is welcomed at a challenging time in the market."