Normal paragraph. Gotham Book 16 on 26. Text case None. Colour: Black.
How the recovery of our natural
environment is helping to fight climate change
How the Covid-19 pandemic is transforming our local high streets for the better
The butcher, the baker and the candlestick maker
INTRO PARAGRAPH - GOTHAM LIGHT 16 on 26. all caps. change the colour accordingly if required.
Our interview with the Olympic medallist and curling world champion on her success and what it means to be a leader
Why our experience of lockdown has made us
think about where and how we want to live
elcome to the second edition of Savills
annual Scottish property magazine – ALBA – which celebrates the very best of Scotland’s land and property. A lot can happen between one year and the next, but by any standard the changes we have felt as an industry and as individuals in the past 12 months have been profound. The Covid-19 pandemic has impacted nearly every corner of the world and upended normal life as we know it. It has changed the way we rely on the properties we call home. It has affected the way we work, as many of us swapped the daily commute to the office for home working. It has transformed how and where we shop, has shone a spotlight on our country’s food security and given us a renewed appreciation for nature and the environment. And the pandemic has challenged the way we relax, with leisure facilities compromised by closures and health and safety measures, while restrictions on travel continue to impact where we can holiday. But with change comes opportunity and Scotland is proving more attractive than ever in 2020. Scotland’s residential property sector witnessed unprecedented levels of demand when lockdown measures eased, and our country’s big open spaces continue to prove appealing to a society living with a pandemic. Our hospitality and tourism industries have absorbed the swathes of holiday makers unable to travel abroad and choosing to enjoy our breathtaking scenery instead. Our world leading life science industries are delivering on a global scale. Our local high streets have been reinvigorated to serve their communities. And as many of us continue to work from home, the humble office is something we now long to return to, rather than take for granted, albeit perhaps not 9-5, five days a week. Addressing the ongoing impact of Covid-19 and other factors on Scotland’s commercial, rural, residential and development property sectors, this issue of ALBA highlights why our small nation remains a fantastic place to live, work and enjoy.
Head of Savills Scotland
Produced & designed by:
Real Media Group
The changing face of the office
Reaching a worldwide market, virtually
an interview with eve muirhead
How the recovery of our natural environment is helping to fight climate change
THE Highland High Life
The rise of the local high street
An interview with eve muirhead
Farming our way through Covid-19
Halcyon days are on the way
for Edinburgh’s Haymarket
The electric vehicle revolution
A RICH HERITAGE AND A VIBRANT FUTURE
The strengthening LIFE SCIENCE sector in Scotland
glasgow in a day
The great outdoors
Curling world champion and Olympic medallist Eve Muirhead MBE talks to Savills Head of Rural Agency in Scotland, Evelyn Channing.
As of 31 March 2019 there were 266 projects across the UK (123 of them in Scotland) registered with the Woodland Carbon Code and 187 of them (95 in Scotland) are validated as meeting the standard. The validated projects have planted over 8,000ha of woodland (over 6,500ha of it in Scotland) and are predicted to sequester 3.4 million tCO2 over their lifetime (2.5 million in Scotland).
The Scottish Government wants to stimulate the private woodland carbon market and increase tree planting from just under 12,000 hectares per year in 2020 to reach its target to plant 15,000 hectares per year by 2025 and 18,000 hectares annually by 2030 - about 36 million trees. The demand for woodland carbon and its potential offsetting income streams strengthen an already growing forestry market. Our research shows that there has been a 25 per cent increase in value per net productive hectare of forestry in the UK in the last year.
The domestic woodland carbon market is in its infancy, but with increasing offsetting demand from multinational companies, the market for offsetting deals between emitters and land managers looks set to expand
By Andy Greathead,
Director, Forestry Management, Savills Perth
How the recovery of our
is helping to fight climate change
Clear skies, fresh air and abundant wildlife – nature’s revival has been heralded as one silver lining of the coronavirus pandemic.
Scottish Forest Woodland, Royal Deeside, Aberdeenshire, Scotland.
Camore wood, Dornoch, Scotland.
hile economies have halted, the climate-altering
emissions that come with unsustainable economic growth have plummeted. Research suggests that the world’s CO2 emissions will fall by 8 percent in 2020. That would be the largest drop in emissions ever recorded – six times greater than the impact of the 2008 financial crisis. The pandemic has highlighted that a symbiotic recovery of nature and resilience to climate change is possible. It has strengthened the case for nature-based solutions within the UK Government’s (legally committed) race to reach net zero emissions by 2050. Woodland creation is a well known natural solution for increasing carbon sequestration and reducing climate change. Globally, the volume of forestry offsets increased 264 percent between 2016 and 2018.
The domestic woodland carbon market is in its infancy, but with increasing offsetting demand from multinational companies, the market for offsetting deals between emitters and land managers looks set to expand. Putting a value on woodland carbon depends on quantifying carbon sequestration which is no easy task as there are so many determining factors. The type of tree, its age, location, soil type, stocking density and management all alter the quantity of carbon sequestered. Therefore rigorous assurance standards are required to verify that a forestry project is successfully absorbing additional carbon. In Scotland, the Woodland Carbon Code is the Government-backed standard for UK woodland carbon projects, managed by Scottish Forestry on behalf of the UK Government and devolved administrations.
The recent performance of the asset class, paired with its environmental benefits, makes forestry an increasingly attractive investment.However, planting more trees is not a silver bullet solution. It is important to be aware of the barriers to planting. The nursery stock of tree saplings is limited and the planning process for woodland creation is time intensive. Once approved, woodland cannot be reverted to farmland which often deters farmers. Finally, there is a limited area within the UK that is suitable for tree planting - it is important not to compromise other biodiverse habitats in the name of reaching tree planting targets.
Planting must be undertaken at the right place and time and with the help of professional advice. Clearly carbon sequestration through nature-based solutions such as planting trees will be essential on the path to reaching net zero emissions. But at the same time, the Government now has the colossal task of pulling our pandemic-stricken economy out of the depths of recession.
Exactly how it does this will be a defining story to be played out for the rest of this century. Will the Government use this post-pandemic opportunity to cleanly and greenly restructure, promoting a resilient recovery to a new zero carbon economy? Or will it simply be business as usual? Only time will tell…
Our research, together with our own experiences, confirm the fundamental need for offices in the future. However, where design was once all about desk space, new working patterns mean organisations will need flexible spaces focused on collaboration and team-building. The office is a place where we can mix and spark ideas off colleagues; a place where creativity is spawned and businesses can thrive. Offices need to be aspirational and reflective of a company’s culture. Reflecting these points, data from our 2020 Office FiT survey showed that 54% of people enjoyed working from home at the beginning of lockdown, but nearly 90% felt that the office was still a necessity going forward. With a focus on Scotland only, this figure rose to 92%.
Respondents in Scotland would ideally like to spend two days a week working from home, with the rest of the time spent in the workplace. It therefore seems entirely logical that our offices reflect some of the fundamental changes that have occurred since the start of 2020 and ultimately provide the best of both worlds for everyone. The views of any survey only reflect opinion at a given point in time and we expect the role of the office to continue to evolve as by trial (and sometimes error), businesses ascertain what truly works for them, their people and clients.
The Covid-19 pandemic has upended normal life in countless ways, not least the switch from commuting to the office every day to working from home.
By Mike Irvine,
Director, Business Space Agency, Savills Edinburgh
of the office
How can we future proof our buildings today to allow for the big shifts of tomorrow?
The office is a place where we can mix and spark ideas off colleagues; a place where creativity is spawned and businesses can thrive
Employees will demand workspaces to support both physical and psychological mental health and wellbeing. Feeling safe will be paramount.
Savills Edinburgh, 8 Wemyss Pl, Edinburgh, Scotland
nadvertently we have become much more conscious of the
space in which we work, focusing on everything from the quality of natural light and noise levels to the speed and availability of our technology. The very best office design in recent years has embodied values of wellness, creating places and buildings that enable workers to maximise productivity in pleasant environments. The pandemic has accelerated these themes to now stand front and centre. At a time when newspaper headlines question, “Do we even need an office?”, the role that design has, and will continue to play, will be of fundamental importance in ensuring that offices remain one of the most important assets to a business or organisation.
Offices provide what humans crave - culture, community and connection. Design will focus on employee requirements, which if properly addressed, will positively impact commercial success:
The ‘Future Proof’ Office
Both in and out of the workplace, to enable a healthy life balance supported by innovation in technology and HR procedures.
Employee experience will be vital in the future, not just for clients and visitors. The workplace will need to be highly accessible, intuitive and adaptable to meet varying needs, as well as being digitally connected to both support a sustainable environment and to provide readily available services.
Productivity increases when people are empowered to choose where, when and how tasks are completed whether at work or elsewhere.
Now that we know we can work from home there is no going back: according to Deloitte, 87% of our young talent today believe that, “A business’s success should be measured on more than just financial performance.” Companies will need to foster passion, creativity and positivity in today’s global community and actively demonstrate their sustainability credentials and desire to make a difference.
Whether selling an expanse of rural land, a townhouse in the city or a new build development, there is no question that virtual viewing technology has come into its own during the Covid-19 pandemic. Although nothing beats visiting a property in person, many prospective buyers will continue to view this way, particularly where restrictions still apply or where buyers are vulnerable, time poor or living abroad.
Video tours enable buyers to view a selection of properties across the country in one go, providing all the information they need to make an informed decision from the comfort and safety of their own homes. The quality of the digital tools available is improving all the time and can now include virtual guided tours, plot selectors and drone footage, delivering a very effective and realistic viewing experience for prospective buyers. Wherever you are in the world, you are very welcome to take a virtual tour of some of the best properties on the market here in Scotland.
• Bewliehill Farmhouse (3 reception rooms and 5 bedrooms)
• Beautifully maintained gardens, hard tennis court and timber chalet
• Modern and traditional farm buildings with development potential
• 216 acres arable
• 81 acres pasture
• 24 acres woodland
• Informal shoot and trout fishing on the Ale Water
Bewliehill, Lilliesleaf, Melrose, Roxburghshire TD6 9ER
*Please note, at the time of printing this property is now under offer.
Bewliehill is a most attractive farm lying in a peaceful position within a large bend in the Ale Water.
• Viewings available by appointment
• Virtual appointments available
• 1-4 bedroom apartments
• Penthouse collection
• Lift access
• Undercover parking
• Exceptional specification
• Private balconies and terraces
• Exclusive Owners Club privileges
Park Quadrant Residences is an exclusive development offering a mix of 98, one, two, three and four bedroom apartments and penthouse collection. Situated within the historic Park District.
Park Quadrant Residences, Park District, Glasgow, G3 6BS
• Category B Listed mansion house with 8 bedrooms
• Traditional estate courtyard with garaging and stabling
• 3 estate cottages including a gate lodge
• 553 acres of pasture and grazing
• 129 acres of forestry and further planting opportunities
• Established driven pheasant shoot, roe deer stalking and fishing on the River Cairn
• 669 acres in total
A splendid estate in the rolling Dumfriesshire countryside.
Stroquhan Estate, Dunscore, Dumfriesshire DG2 0UP
• Show apartment & sales suite open daily
• Excellent views towards Edinburgh Castle and the city skyline
• Located in one of Edinburgh’s most desirable addresses
• Limited apartments remain
• Designated parking space and electric vehicle charging points
A collection of 1, 2, 3 & 4 bedroom contemporary and innovative apartments in one of Edinburgh’s most desirable locations.
Boroughmuir, Viewforth, Bruntsfield, Edinburgh, EH10 4LR
By Cameron Ewer,
Head of Residential, Scotland
e have been helping clients with planning applications,
options appraisals, feasibility studies and planning appraisals, establishing, for example, glamping sites, holiday lets and hotel developments as well multiple enterprises ranging from mountain biking and farm shops to cafés and restaurants. There is no doubt that the Highland region is blessed with a number of assets that are combining to produce a tourism boom. Supported by the expansion of its airport, Inverness, as the Highland capital, is now ranked among the most visited cities in the UK, above Newcastle and York. It attracts more than 300,000 tourists each year, from both the UK as well as global locations. But what is bringing them here? A study by Glasgow Caledonian University found that the North Coast 500 has provided a £22 million boost to the economy of the Highlands in a single year. An additional £13.5 million was spent on accommodation, activity and retail along or near the route throughout 2018.
Tourism-related businesses also reported a 16 per cent uptick in business between 2017 and 2018. Meanwhile the region’s good looks have attracted the attention of the film industry. From Urquhart Castle to the Battlefields of Culloden, a plethora of sites are proving to be a draw for fans of the Outlander series, which has aired both at home and in the US.
Screen Scotland was established in 2018 to create opportunities for the Scottish film industry and with the launch of Outlaw, the Netflix historical drama based on the rise and fall of Robert the Bruce, and recent hit Mary, Queen of Scots, the film tourism trend is set to continue. Meanwhile, Historic Environment Scotland’s investment plan (scheduled to run until 2022) aims to enhance the condition of sites and improve visitor experience.
At a time when the Scottish agricultural sector is facing a number of external threats, including a move away from subsidies, the Highlands is alert to emerging trends, with many rural businesses keen to diversify into leisure and tourism.
By Adam Davies,
Tourism and Leisure Specialist, Savills Scotland
The region’s mountains, rivers and Loch Ness itself offer countless opportunities for outdoor enthusiasts. A number of our clients have been capitalising on the wellbeing trend and the subsequent rise in demand for active holidays, by repurposing their land and property, enabling them to drive income from a host of activities including fishing, wildlife tours, paddle-boarding, skiing, white water rafting, hiking and mountain biking to name just a few.
Loch Lomond, Scotland
Tobermory, Isle of Mull,
Scottish Inner Hebrides, Scotland.
Inchconnachan, Loch Lomond, Scotland.
By Steven Fyfe,
Associate Director, Hotels Agency, Savills Scotland
cotland saw an influx of British holidaymakers in 2020 as the ongoing Covid-19
pandemic and international travel restrictions continue to steer people towards holidays in the UK. During July and August, 11 per cent of UK residents who took a domestic holiday chose to do so in Scotland, according to Visit Scotland.
UK holiday-makers take the high road and head to Scotland for staycations
Scotland has always had a strong domestic tourist draw, with 66 per cent of Scotland’s holidaymakers already living north of the border. With travel restrictions ongoing, data from Visit Scotland suggests Scotland is the number two destination for UK residents for a holiday or short break, second only to the southwest of England. Scotland remains the number one domestic holiday destination for Scottish residents.
The country’s tourist hotspots include the West Coast and Islands, namely Oban, Isle of Skye and Mull, with holiday lets witnessing unprecedented demand and many hotels at full occupancy. It’s not just rural locations that are a firm favourite with British holiday makers. Research from STR shows hotel occupancy in Scotland’s city centres quickly began creeping up again over the summer despite levels dropping to just 10% in April soon after the UK’s first national lockdown was implemented (by the last week of August hotel occupancy stood at 65% in Edinburgh, 46% in Glasgow, and 88% in Inverness). Following months of extremely poor trading in the height of lockdown, the flurry in demand that followed the initial easing of restriction measures came as extremely good news for the tourist industry and local economies.
The trend towards buying locally produced food was already building momentum prior to the pandemic, with evermore consumers beginning to make a notable effort to buy seasonal produce with reduced air miles. The coronavirus crisis appears to have accelerated this shift. Local retailers - high street butchers, bakers and grocers – have come up with innovative ways to safely offer their products and services to the local community, with many joining forces to collectively make deliveries. There are also numerous examples of entrepreneurial local restaurants and cafés switching overnight to create a takeaway offer as well as using their kitchens to cook food for NHS staff, essential workers and vulnerable members of the community.
ovid-19 has hugely impacted how retailers operate
and consumers shop, with restrictions resulting in an almost overnight blanket closure of our UK high streets in April with the exception of specific essential retailers. Months of significant change to the way in which we shop has led to consumers embracing new habits.
With lengthy queues often forming outside supermarkets and online delivery slots being few and far between, many switched to the independent retailers on their local high streets for everyday essentials and, despite the majority of retail stores reopening once more, consumers are continuing to ‘shop local’.
The butcher, the baker and the candlestick maker – how the Covid-19 pandemic is transforming our local high streets for the better
The trend towards buying locally produced food was already building momentum prior to the pandemic, with evermore consumers beginning to make a notable effort to buy seasonal produce with reduced air miles.
By Stuart Moncur,
Head of National Retail, Savills
of the local high street
This drive towards shopping local, along with the concerted efforts that these businesses have made to continue supporting their own neighbourhoods during this time, should help independents reap longer term rewards with the loyalty they have built up during the course of the crisis. Indeed, popular suburban areas and local highstreets have seen a far stronger footfall return than many city centres. With increased flexibility to allow staff to work from home, local high streets will inevitably see a further boost as more of the population are at home from 9-5 during the week. The Covid-19 pandemic has turned normal life upside down, but the revival of local community retail is one of the more positive side effects of this strange new world in which we live.
Stockbridge, Edinburgh, Scotland.
It sounds like we have both had exciting careers to date. You had some phenomenal early success, but also I am intrigued that you didn’t specialise straight away in curling.
Oh, my goodness, no, it was definitely not a straightforward line! In the early days I split my time between golfing, piping and curling. I just loved practising and getting better almost as much as I hated being bad at something, so I took everything to a fairly high level before focusing in on curling as the priority.
So following that specialisation, you went on to four junior world curling championships – and won them all! How did you cope with that level of early success?
Looking back, I was fearless in those days, playing for the love of the sport with a group of friends and just having a blast. I wasn’t scared of making a mistake and with that freedom came a lot of success. I was serious on the ice but outside of that I was having such a great time. These days other teams are so close behind and there is a pressure to continue performing. Everything is taken care of to such a high level, from nutrition to fitness and from practice to analysis – you constantly feel like you don’t want to leave a single stone unturned. I’m happy to admit that I am a geek in that I love the detail around curling; the analysis of the game and of your opponents.
That’s an incredible journey. Is it now about eliminating as many elements as possible that could go wrong, so that all you have to focus on is your performance on the ice?
Exactly that, the big tournaments are 10-12 days long and you can see less experienced teams lose their energy as we approach the end. We want to ensure that, as a team, our level of fitness means that together we’re generating the energy we need, even on day 12. In theory, all of the top teams in the world are as precise as one another: it’s now down to much finer margins – who has the stamina, who can produce the right energy in the play-off, who can make their best shots under pressure for the win? Is your industry similar Ev, have you seen transformations in the standard and quality of yourselves and your competitors?
Yes, interesting point. There were only five of us in a front room in Charlotte Square working across the rural property sector when I joined the agency team in Edinburgh 25 years ago. We’re now almost 300 people strong, working across the entire property spectrum in eight offices, from Inverness to Dumfries, and we’re backed-up by big teams in London, including research specialists. If I was writing an opinion piece on the estates market in the early days, or preparing a proposal for a client, it would be purely my own thoughts and experience. Now the data available means we can provide the most informed advice to help decision-making. Equally, going into a competitive pitch is like going in to battle; everything is rehearsed and scrutinised much more now. But it’s really important that this almost clinical approach is softened by a personal touch – relationship-building with colleagues and clients will always remain crucial to our business, and that’s what gives us the edge.
Both Savills and Eve work with Red Sky, a management company which helps people in both the business and sporting worlds to identify their skill sets and to convert their potential, ensuring continual, exceptional development.
An interview with
Curling world champion and Olympic medallist Eve Muirhead MBE and Savills Head of Rural Agency in Scotland, Evelyn Channing (known by friends and colleagues as Ev), are both used to operating at the top level and leading high performance teams. But what has helped them attain success in their own fields and what are the lessons they have learned along the way?
I just loved practising and getting better almost as much as I hated being bad at something
© Richard Gray
technology and data play an enormous role but then the data is nothing if the relationships are not working within my team.
We are the same; technology and data play an enormous role but then the data is nothing if the relationships are not working within my team. I have to know who needs an arm round their shoulder and who needs more of a sharper word to up their game.
So what about pressure? I personally really enjoy an element of that and find I produce my best and most focused work when I am up against the top competition in a pitch, for example. Whether it’s getting a complex rural estate ready for the international market or pitching against another agency to sell a farm, I guess it’s a bit like making shots under pressure?
Oh, absolutely, I love high-pressure situations. In fact, a Swedish coach once said to me, “You are a play-off team,” and he was right – we might lose in round-robin stages, but we would pull out a win against the world number one on the day.
Are there any scenarios where you question yourself under pressure?
Yes, all the time, but working with my team means decisions are shared and that helps a lot. One of my greatest fears though is letting other people down: I do ultimately have to make that last shot, so self-doubt can creep in. There are always so many options as to the shots you can call at any given moment.
Ah, that is one of our mantras as a team – when we give advice to clients we always look to test it by thinking ahead and asking, “What if?” If we go with a certain route, what might happen, and then what options do we have?
Exactly, and back to the team angle again, I’m always looking to pick the options that will force my opponents to play their weakest shots while allowing my team to play to their strengths. I think I have learned not to over-complicate things, but rather play the percentage shots and let our opponents chase us more.
I believe that’s true for us too. We try to play-in the team mates who have the appropriate strength at the right time. I am a great believer that, as the leader, you must recognise where your team are better than you and set them up to contribute at those moments.
OK, Ev, I have a question for you: how did you know that you had become an expert?
I’m not certain that I will ever see myself as that because I’m learning all the time. But self-belief certainly does come into play. There are occasions where I am at the table with the kind of clients I would have aspired to work with when I was younger, and I realise they’re looking to me for my input and, what’s more, I realise I have the knowledge and experience to provide the answers. I often remind my team that they know an awful lot more than they think they do.
I would agree - you have to trust and support your own experience. But I also now have the confidence to ask for the external advice I need to help me and my team. We’ve had the luxury of having a Performance Director come in from another sport, and it has been invaluable to get another perspective on how we can improve.
That is a great reminder for us: we have so many divisions here at Savills, and it’s always so helpful to have someone from a completely different specialism to offer their opinions and insight. We do that informally, and indeed formally where required. We have so many great people with whom I love working, and who I am genuinely inspired by.
Yes, there’s no doubt a team that connects, made up of people with different skill sets and strengths and which is underpinned by trust and respect, makes a massive difference to the consistency of performance.
Looking back, I was fearless in those days, playing for the love of the sport with a group of friends and just having a blast.
FRONT COVER FEATURE INTERVIEW
The pandemic has shone a light on UK food security and global supply chains. According to the University of London’s Food Policy Unit, our country is now just 60% self-sufficient in food production, meanwhile research from the Food Foundation reveals eight million people struggle to put food on the table.
Farming our way
By Andrew MacDonald,
Head of Food and Farming, Savills Scotland
Meanwhile in the Highlands, Ardtornish estate has been selling their meat and venison to neighbours at a 30% discount from market value. Demand has increased exponentially during the lockdown and consequently the value of sales, even with the discount, has equalled the previous year.However, more collaboration is required in farming systems and the food chain, be it through producer organisations supplying local markets or greater knowledge transfer. And although furloughed workers have been able to apply to work on farms, there remains a shortage of seasonal staff.
he onset of Covid-19 saw retail prices rise due to panic food
buying. Cereal prices have been volatile, while the livestock sector initially saw steep price falls with reduced demand in exports as well as from the hospitality sector. This was followed by a significant strengthening in demand and prices, perhaps related in part to greater loyalty to British produce shown by domestic purchasers rather than hospitality and wholesale buyers. Supply chains initially struggled to adapt, and subsequent local lockdowns continue to highlight these same issues, though thankfully not to the same extent. We have seen some laudable examples of entrepreneurship among farmers in recent months. Yester Farms hospitality trade all but dried up during the height of the pandemic, but they are now delivering their range of artisan cheeses and other dairy products to households instead. Nearby W M Logan had their vending machine in place before lockdown started but it has proved to be a lifeline for the local community, and the farm has also started to offer a potato home delivery service across the UK.
Government policy on agriculture, where and how our food is produced, where it is consumed, and the entire supply chain (from producer through to consumer) are all coming into much sharper focus as a result of Covid-19, along with developing Government policy on agriculture. Meanwhile, the Committee on Climate Change published its first report on Land Use, setting out how the UK will have to change to become Net Zero by 2050 (2045 in Scotland). Both will bring challenges but, importantly, new opportunities for the sector too.Further investment to boost the efficiency of our farming industry in order to maintain food security is essential. In the meantime, it is important that farmers invest wisely and keep abreast of changes impacting the sector.
When people reached the stage of bringing up a family a generation ago they aspired to move to the Scottish countryside, attracted by the comparative value for money, an abundance of fresh air and exceptional quality of life in beautiful locations like Fife, Perthshire, The Borders and the West Coast.
While the past 20 years saw a gradual move to urbanisation, Savills research shows that country living is returning to fashion with a rise in the number of sales in more rural areas, driven by a reassessment of what is important in life.
By Jamie Macnab,
Head of Country Houses, Savills Scotland
• Glorious view over Loch Tay
• Planning permission to alter and extend existing property
• Close to Kenmore, Fortingall and Aberfeldy
• 0.25 acres of foreshore with permission to build a boat house
• South facing position
A superb loch side development opportunity.
Ach Na Creag – offers over £295k
ven before the current hiatus caused by the coronavirus we
were seeing an upswing in buyers of Scottish country properties. However, a survey of 700 homebuyers and sellers reveals that the experience of lockdown has given people time to think long and hard about what is most important to them, with many people concluding that they hope to achieve a better work/life balance, with a range of criteria on their wish list including access to outdoor space and room to work at home, fast broadband, green energy potential, sufficient land to grow produce, room for multi-generational living, and also income potential such as holiday lets. The prices for country houses have lagged behind those in Edinburgh and the south which means that they now offer real value for money. Certainly Savills website has seen a greater proportion of hits on Scotland’s picturesque ‘escapist’ properties in beautiful, tranquil locations this year. It will be interesting to see how these trends play out when our world returns to normal.
• Well laid out family accommodation with three reception rooms and four bedrooms
• Ideal for modern family living and for entertaining
• Surrounded by its own enclosed gardens and grounds of 2.13 acres with useful outbuildings
• Views out over adjoining farmland Close to Inverkeilor and the A92 so ideal for commuting
Attractive country house, which nestles just inland of Lunan Bay, a renowned beach on the Angus coast.
West Mains of Redcastle – Offers over £360k
• Lovely Highland setting at the head of an Angus glen
• Extensive gardens and wooded grounds with two ponds,
a solid fuel hot tub and a water turbine
• Fully refurbished family house or holiday home
• Good garaging together with outbuildings and polytunnel
Glenmarkie Old Lodge – Offers over £410k
• Elegant country house in an elevated position overlooking Sandyhills Bay
• Mozolowski & Murray conservatory with views over gardens and tennis court
• Modern fitted kitchen with racing green AGA
• Exceptional gardens extending to around 2.5 acres
• Exceptional views over the Solway Firth
• Grand reception hallway with hardwood finishes and hand carved balustrade
• Flexible accommodation throughout
Outstanding country house with magnificent views.
Roughills – Offers over £750k
• Substantial 18th century classical Georgian country house
• Two bedroom suites and a further three bedrooms
• Contemporary country dining kitchen and central breakfasting island
• Additional two bedroom cottage
• Set in extensive natural woodland and on the banks of River Doon
• Bright and spacious accommodation with classic Georgian proportions
• 18th century eight bedroom Coach House
• Walled garden, various lawns and parkland with a number of gravel walkways along the river
Exquisite private and secluded estate in the picturesque Ayrshire countryside.
Skeldon Estate – Offers over £2.5m
• Elegant country mansion in one of the finest positions in the southwest of Scotland
• Uninterrupted open aspects over the Galloway countryside
• Set in about 20 acres with beautiful gardens, swimming pool and tennis court Wonderful blend of traditional and contemporary features
• Set in a tranquil location within the Fleet valley
• Additional three bedroom detached coach house
• Detailed and comprehensively refurbished in the last 10 years
• Breakfasting kitchen with AGA
Carstramon – offers over £1.75m
Elegant mansion house with cottage in idyllic countryside location.
ARE ON THE WAY FOR EDINBURGH’S HAYMARKET
Having been derelict for more than 52 years, the total regeneration of Haymarket Edinburgh by Qmile Group and M&G Real Estate is set to transform the iconic site in the heart of Edinburgh.
asterplanned and designed
by world-renowned architects Foster + Partners, the four-acre site will provide three Grade A office buildings totalling 380,000 sq ft, a 362 bedroom hotel and the provision of 40,000 sq ft of retail and leisure space. In addition, there will be significant investment into the public realm with Haymarket Square – an expansive new public space at the core of the development.
Haymarket Edinburgh will boast exceptional transport links, providing easy access to multiple bus and tram services across the city, including direct routes to Edinburgh Airport. Sitting adjacent to Haymarket train station, the site will also connect passengers to Glasgow, London and the rest of the UK through regional and national rail networks.
Haymarket Edinburgh is set to underpin the city’s position as both a global financial hub and an internationally recognised tech centre of excellence. With a 280,000 sq ft pre-let agreed to investment partnership Baillie Gifford, the redevelopment is bringing much needed high-quality office space to a market that sees supply of Grade A office accommodation at a ten year low.
On completion, expected summer 2023, Haymarket Edinburgh will provide a vibrant oasis in Edinburgh’s city centre where working professionals and locals alike can meet and relax.
In addition, there will be significant investment into the public realm with Haymarket Square – an expansive new public space at the core of the development.
By Silvia Manzoni,
Energy Consultant, Savills Perth
According to Shell Energy, two thirds of people are considering an EV as their next vehicle.
There is no doubt that Covid-19 has created a greener environment with a considerable decrease in carbon emissions within our towns and cities. This was particularly true during the peak of lockdown and is the result of a combination of factors such as the reduction of flights and manufacturing processes, but also significantly fewer petrol and diesel-fuelled vehicles on our roads.
ransport currently contributes a fifth of overall greenhouse gas
emissions. As the UK Government’s deadline of hitting its net zero target by 2050 draws nearer, with an even more ambitious target here in Scotland of 2045, and with the related goal of eliminating the need for petrol and diesel cars by 2035, a surge in demand for electric vehicles (EVs) will be essential. By the end of 2019, only 0.75 per cent of vehicles on the road were ultra-low emission, so there is some way to go yet.
A key factor in the relatively slow uptake of electric vehicles has been a perceived lack of charging infrastructure. Yet the average daily mileage for a vehicle in the UK is just 21 miles, which is well within any plug-in vehicle (PIV) range, so drivers can easily charge their cars at home. A standard three-pin charge is fine once in a while, but it is not designed to sustain power for long periods of time. A specially fitted home-charging point ensures faster charging speeds and built-in safety measures.
Furthermore, the public use EV charging infrastructure is rapidly expanding: Savills energy team is assisting investors, developers and landowners to establish a plethora of charging points alongside hotels, offices, petrol stations, retail parks, supermarkets and new residential developments.
Cost is often cited as another barrier to the take-up of EVs. However, although the average purchase price of an EV is slightly higher than an internal combustion engine (ICE) vehicle, the overall lifetime cost is actually considerably lower with cheaper fuel, road tax and MOT costs all playing their part. In fact, the price per mile for an average ICE vehicle is around 12p while for an EV it is around 4p. And as the second-hand market widens, consumers will be able to access even more affordable electric cars.
The most significant development in the EV revolution will be improved consumer confidence and changing behaviours: how we plan ahead for longer journeys to ensure there are charge points along the way. A growing number of people are doing this already.
Today’s electric vehicle owners may be seen as pioneers, yet the transition from ICE vehicles to PIVs is very much in motion. The largest cities in the UK have introduced low or zero emission zones. Edinburgh, Bristol, Nottingham and Oxford have set their net zero target for 2030. Many other local authorities are switching their fleets from internal combustion engine vehicles to PIVs.
And recognising the importance of holidaymakers to our economy here in Scotland, the tourist industry is also gearing up for the green revolution: it is now possible to charge your electric vehicle in landmark visitor spots including Glencoe, Gleneagles Hotel and Stirling Castleview Park and Ride.
The range of vehicles available on the market is growing year on year with car manufacturers increasingly swapping their internal combustion production lines to EV.
The variety of electric vehicle options isn’t limited to cars: utility vehicles, such as quad bikes, as well as traditional work vans and a handful of heavy goods vehicles have also been introduced.
According to Shell Energy, two thirds of people are considering an EV as their next vehicle. The sector is preparing for this evolution and there are many opportunities to participate in, and take advantage of, what is already a rapidly growing marketplace.
By Evelyn Channing,
Head of Rural Agency, Savills Scotland
OCCUPYING A COMMANDING POSITION ABOVE THE RIVER SOUTH ESK IN ANGUS, OVERLOOKING ITS 70 ACRES OF POLICIES AND PARKLAND, AN A LISTED CASTLE, WHICH HAS BEEN THE SEAT OF THE RAMSAY CLAN SINCE MEDIEVAL TIMES, IS NOW FOR SALE AT AN ASKING PRICE OF OFFERS OVER £3MILLION.
nsurprisingly, the sale of Brechin Castle is attracting interest
from all over the globe, particularly from the US where buyers place huge value on Scottish heritage.
Brechin Castle was built on the site of a much older fortress belonging to the Scottish Kings and incorporates part of the original 12th century castle. The present building was reconstructed in the early 1700s, evolving from a strategic warrior stronghold to a grand house for the Scottish aristocracy in the 18th century and beyond, and its architectural influences are rather more French than typically Scottish.
The main approach to Brechin Castle is suitably awe-inspiring, with its imposing entrance gates and a long drive that takes in a striking single arch bridge before opening out to beautiful policies which offset the front elevation of the castle.
A stone flagged floor and impressive pillars set the scene as you enter this house which brims with architectural treasures including a truly magnificent staircase, and the portrait-lined gallery which along with the drawing room boasts an elaborate ceiling. The drawing room exudes history and craftsmanship, with much delicately carved woodwork including a ‘secret’ door, and was specially designed to display the Flemish tapestries that still adorn the walls.
The dining room, commissioned in the same Edwardian era (early 1900s) but executed in a Jacobean style, can seat 20 comfortably and has three south facing windows and again, rich wood panelling. The charming little drawing room at the front of the house was once a billiard room and features a fabulous 39 light William IV chandelier. On the ground floor the family dining room, with its vaulted ceiling, is thought to be the original site of the 12th century building as evidenced by its splendidly thick walls.
The interior and exterior of Brechin Castle, Angus, Scotland.
Perhaps as astonishing as the castle itself are the quite extraordinary garden grounds which despite their scale are incredibly intimate – a wonderful place in which to restore both body and mind. Indeed, they are considered to be among the finest and most important private gardens in Scotland, extending to over 40 acres and including the spectacular 13 acre Walled Garden. The gardens have been skilfully designed and planted over the centuries and include beautiful roses, topiary hedges, stunning herbaceous borders, a lily pond, and many specimen trees including a majestic Cedar of Lebanon.
Other properties included in the sale are the Head Gardener’s House; Under Gardener’s Cottage; Laundry Cottage; West Lodge; New Lodge and a B Listed stable block that could be developed subject to planning.
All are stone-built attractive period buildings from which a true sense of history and a specific period in time is derived.
The castle would lend itself brilliantly to a commercial or hospitality enterprise but could equally remain as a much cherished family home which affords itself to accommodating and entertaining on a grand scale
To be involved with the sale of such a castle, which is genuinely steeped in history, and has endless options for a vibrant future, is a privilege indeed.
Sector in Scotland
By Steve Lang,
Director, Offices & Life Sciences Research, Savills
ith the global race on for a vaccine, there has been a
significant increase in the level of interest from all corners of the market in the future role of this sector and, importantly, where it will grow geographically.
The UK has a pioneering reputation in the life science arena. Research and development (R&D) capabilities have grown significantly and the presence of global companies in the country speaks for itself. To illustrate this point, the latest data from the European Commission regarding the top 2,500 global R&D spending companies is enlightening.
In terms of the value of R&D spend globally, the €154 billion spent within the pharmaceutical and biotechnology sector for the top ten countries accounts for 95% of the total. The UK is firmly in this top ten, in fifth place, accounting for 7% of the global R&D total. R&D spending, whether in pharmacuticals, food or automobiles, demands a specific type of real estate and proximity to a highly skilled pool of labour.
twelve months ago, opinion around the life science sector in the UK and its impact on real estate was very much being driven by the uncertainty around Brexit. This remains, of course, but assessing any real estate sector obviously now requires a Covid-19 ‘lens’ to be applied.
For the life science sector, the question is how is this industry distributed across the UK? There are pockets of life science companies throughout the country, and the best way to identify the distribution is to review the geographical location of capital raising in the sector in the recent past.
At a regional level, it in unsurprising to see the dominance of London, the South East and the East of England regions. The latter two are driven by the strength of the Oxfordshire and Cambridgeshire markets. Chart 1 supports this and presents the relative strength of the three core life science regions. The East of England had seen 150% growth in the 2018-2019 period compared to the preceding two-year period. However, looking at 2020, the South East has seen a marked increase compared to the average for 2018 and 2019. Some significant company deals in Oxfordshire have driven this outcome.
2018/19 growth versus 2016/17 (r-h scale)
Rest of the UK
East of England
Chart 1 Venture capital raised in life sciences (£m)
2018/19 growth versus 2016/17
Source: Savills, PitchBook
Venture capital raised (£m)
Chart 2 Life science related venture capital raised in the rest of the UK including Wales and Scotland
With their elite university links, Oxfordshire and Cambridgeshire will remain the core locations outside of London for a very long time, probably indefinitely. However, analysis of the rest of the UK in more detail starts to show other strong regions and their respective cities of growth.
Looking at Chart 2 below, the development of Scotland’s life science sector is clear to see. Edinburgh and Glasgow have been a growth location for many years, accountable for 50% of the total number of capital-raising deals recorded. In Glasgow, during the 2018-19 period, there were various deals on the West of Scotland Science Park, which will result in that cluster continuing to grow.
In terms of the level of VC fundraising, 2020 has been a strong year for Edinburgh, largely driven by Roslin Technologies reportedly raising £50 million in July. The company is based at the University of Edinburgh and previous fundraising involved the University of Edinburgh Endowment, which reflects their joint venture. This bodes well for a strengthening cluster in animal health and AgriTech, and shows the benefit to universities of this kind of investment.
As well as the two main cities, Aberdeen could now be one to watch as an emerging bioscience cluster.
In 2020, compared to the previous four-year total, there has been a significant increase in venture capital raised, albeit coming off a low base.
However, NodThera raised nearly £44 million in June led by Novo Holdings, who are part of the large Danish pharmaceutical company. This level of activity in the city will be encouraging for other large investors.
Aberdeen is also being driven forward by the city’s universities, the NHS and Scottish Enterprise, which is one of the largest investors into growth companies in Scotland. In fact, of over 321,000 identified investors in the world, by number of investments made, Scottish Enterprise is ranked 59th. They will continue to play a key role for Scotland’s growth in the life science sector going forward and, in fact, for any other sector engaged in high levels of R&D activity.
in a Day
By Carole Mackie,
Head of Residential Development Sales,
With over 90 parks and gardens and its ambition to meet sustainable targets by 2045 Glasgow is truly worthy of its moniker ‘The Dear Green Place’.
ndeed, analysis of new homes’
buyers during the pandemic reveal that more are looking for proximity to outdoor space, including walk and cycle routes. Others are seeking dedicated home working areas so that they can reduce or abandon their commute altogether. These trends align with the concept of ‘the 15-minute city’ which has been emerging in locations like Paris and Milan, whereby a spirit of city living is being encouraged by policy makers and leaders in order to reduce unnecessary journeys.
The aim is to promote the fact that work, shopping, entertainment, schools and recreation can all be reached within a quarter of an hour’s walk or cycle.
Many of our new developments in Glasgow encapsulate these very trends. Here’s one way to spend a day in the wonderful 15 minute city that I call home.
Begin your day in Byres Road in the heart of Glasgow’s West End, saunter up to leafy Hyndland and grab a window seat at Epicures by Cail Bruich for some serious people-watching in stylish surroundings over an espresso and poached eggs.
Walk off that delicious breakfast with a stroll around the beautiful Botanic Gardens with the wonderful glasshouses and plant collections. The River Kelvin runs along the gardens and continues through glorious Kelvingrove Park, with the Kelvin walkway linking the two green spaces.
Glasgow Botanic Gardens
Ox & Finch, 920 Sauchiehall St, Finnieston, Glasgow, Scotland.
Porter & Rye, 1131 Argyle St, Finnieston, Glasgow, Scotland.
From handbags to glad rags and from florists to jewellers, the independent shops on Byres Road and its surrounding lanes offer the perfect escape from city centre department stores and high street chains. This vibrant enclave is the ideal place to find the perfect gift or simply to browse.
Walk over to up-and-coming Finnieston and have lunch in one of the many bars and restaurants in this extension to Glasgow’s trendy West End. Enjoy delicious wild and foraged food at the innovative Porter & Rye or tuck into contemporary-style tapas at the Ox and Finch on Sauchiehall Street.
As you are in the area, why not have a free game of bowls at Kelvingrove Lawn Bowls Centre, the wonderfully refurbished Commonwealth Games bowling venue. Or if you are more of a culture vulture visit the renowned Kelvingrove Art Gallery and Museum where ancient artefacts blend with cutting-edge interactive displays – and it’s all free.
Willow Tea Rooms, 97 Buchanan St, Glasgow, Scotland.
Head over to the city centre for afternoon tea. The innovative style of Charles Rennie Mackintosh is apparent throughout the city and The Willow Tea Rooms is another beautiful building designed by Glasgow’s most famous son.
Glasgow is second only to London for shopping so if you’re after serious retail therapy, now’s your chance to head for Ingram Street and take your pick of designer stores, including Mulberry, Armani and Boss.
It’s time for an aperitif, so stroll to the vibrant Merchant City where you can take your pick from a host of bars and restaurants. Why not go one better and book a cocktail masterclass at Revolution where you can learn the tricks of the trade, with your own dedicated bartender to guide you.
Scottish food with an elegant twist is on offer at the well-reviewed The Ivy, and its relaxed yet glamorous atmosphere is just the place for a debrief on your day in Scotland’s first City of Culture.
PLEASE DO CHECK INDIVIDUAL WEBSITES OR GIVE EACH ATTRACTION A CALL BEFORE YOU VISIT, AS SOME MAY REQUIRE YOU TO BOOK IN ADVANCE IN CURRENT CIRCUMSTANCES.
By Robert Grant,
Associate Director Valuation Team
BEST OF SCOTLAND – THE CITY VS THE WILD
OUR EXPERTS REVIEW THE BEST OF SCOTLAND, THE CITY VS THE
WILD. ROBERT GRANT, ASSOCIATE DIRECTOR IN THE VALUATION TEAM
IN SCOTLAND SHOWS US HOW TO WALK ON THE WILD SIDE.
HOW DO YOU LIKE TO SPEND YOUR SPARE
ON A CLEAR, BRIGHT DAY WHERE WILL YOU
HEAD TO IN SCOTLAND?
BEST BEACH IN SCOTLAND?
WHAT WOULD YOU TELL SOMEONE WITH A WEEK IN SCOTLAND TO DO?
HIDDEN SCOTLAND – TELL US ABOUT SOMEWHERE THAT NOT EVERYBODY KNOWS ABOUT.
WORK/ LIFE BALANCE IS SO IMPORTANT. WHAT DOES SCOTLAND OFFER THAT OTHER PLACES DON’T?
I recently moved from Edinburgh to Inverness with my wife, Eilidh, and our slightly barmy 23 month old daughter, Anna. I like to keep active and enjoy a wide range of traditional sports and outdoor pursuits although am happiest when I am in the hills.
Our jackets are always at the ready because a bright and clear day during the summer months in Inverness doesn’t necessarily imply that it’s warm outside. We will generally travel west and explore the coastlines around Gairloch, Applecross, Torridon, Ullapool and Lochinver.
There are a number of outstanding beaches in the Highlands although I tend to gravitate towards the surfable coastlines. Sandwood Bay in the far northwest of Scotland is remote, exposed and wild. The beach is generally very quiet and is pounded by powerful Atlantic swells so surfinghere is a special but intimidating experience.
The West Face of Aonach Dubh, one of the Three Sisters of Glencoe, Scotland, in the background
Luskentyre beach in Harris, Scotland.
The Clachaig Inn in Glencoe, Scotland.
My most unforgettable walk was traversing the Cuillin Ridge in Skye with my friend and colleague Richard Cottingham. We hired a local guide to keep us right as the ridgeline that connects the 11 munros is complex, committing and airy. It was a hair-raising couple of days with a memorable bivouac high on the ridge.
The Clachaig Inn in Glencoe always smells a little like feet but has an ambience like no other pub in rural Scotland. The nearby campsite is a breeding ground for midges so a few strong drinks are required in order to dull the senses before scurrying back to the tent.
My favourite days in Scotland have been those where I have done multiple outdoor activities in a single day. During the winter months, it is surprisingly easy to surf the Moray coastline in the morning and ski tour in the Cairngorms in the afternoon.
Scotland is a fantastic place to live and work. The cities are vibrant and cosmopolitan yet the wilderness never feels that far away.
There is an outstanding beach predominantly used by sea kayakers 15 minutes’ walk to the South of Red Point beach near Gairloch. The beach overlooks the Skye Cuillin and during our last visit we shared it only with a few cows.
May and September are my favourite months in Scotland as midges are less of an issue and there are far fewer tourists. I would visit during these months and plot a trip round the Outer Hebridean islands of Harris and Lewis. The Clisham Horseshoe hill walk followed by a dip at Luskentyre Sands is a magnificent way to spend a day.
The jagged mountain peaks of the Black Cuillin on the Hebridean Isle of Skye, Scotland.
5 Queen’s Terrace,
Aberdeen AB10 1XL
8 Wemyss Place,
Edinburgh EH3 6DH
0131 247 3700
163 West George Street,
Glasgow G2 2JJ
0141 248 7342
Commercial, Development, Rural & Residential Property Experts.
Earn House, Broxden
Lamberkine Drive, Perth PH1 1RA
01738 445 588
Lismore House, 32 Miller Road,
Ayr KA7 2AY
01292 838 170
28 Castle Street,
Dumfries DG1 1DG
01387 263 066
Elm House, Cradlehall
Inverness IV2 5GH
01463 215 120
12 Clerk Street, Brechin,
Angus DD9 6AE
01356 628 628
would you Like
to receive future issues of
Normal paragraph. Gotham Book 16 on 26. Text case None. Colour: Black.
Use 40px between paragraphs
pull out quote. gotham book 20 on 32. change colour accordingly to suit article.
By Name Surname,
Caption details. 20 px gap around text to beige box. 10 px gap between this text and the caption header.
on two lines
drop cap paragraph. Gotham Book
16 on 26. Text case None. Colour: Black. Use 8 x spaces after a soft return to line text up around drop cap element. Change the colour of the drop accordingly to suit the article.