The second round of finalists in the national awards programme for commercial property have been announced as the highly-contended competition reaches its conclusion.

With just four weeks until the 5th annual Scottish Property Awards, finalists have been announced in the top three categories.   

The ultimate award of the night, Property Company of the Year, sponsored by Royal Bank of Scotland will be presented one of the following six finalists; Artisan Real Estate; Buccleuch Property; Drum Property Group; Ediston Real Estate; Hub South East and Knight Property Group. 

In Rising Star of the year, sponsored by Bruce Stevenson Insurance Brokers, four fast growing high performing businesses have made the selection.  Commercial property developer Crucible Alba are up against property financiers Fairfield Real Estate, IME Property and student accommodation developers KR Developments.

As accolades for developments are delivered on the night, the predicted 700 members of the audience will also participate in a live vote to determine the winning Deal of the Year.    Sponsored by PMP, the category is assessed by a range of criteria including complexity, risk, value and size.  

7 deals have made the final cut:

  • Atlantic Quay, Glasgow. Pre-let of 79,500 sq. ft at 3 Atlantic Quay on a 25 year lease, culminating in the sale of the asset for £50m, reflecting a net initial yield of 3.6%.
    Deal Team: Moorfield Group; Resonance Capital; Ryden; JLL; Brodies   
  • The Capitol, Aberdeen. Lease of 48,161 sq. ft Grade A office space in Aberdeen city centre to Chrysaor.
    Deal Team: Knight Property Group; M&G Real Estate; Ryden; Savills; AB Robb; Chrysaor; FG Burnett; Brodies
  • Sale of EcoCampus comprising of 235,322 sq. ft + 1,503 car parking spaces at Hamilton International Park in Glasgow for £51.321M.
    Deal Team: HFD Property Group; Aviva Investors; GVA
  • Pre-let of 190,000 sq. ft. of Grade A office space to the UK Government at New Waverley, Edinburgh.
    Deal Team: Artisan Real Estate Investors; DLA Piper; Government Property Agency; JLL; McAleer & Rushe; Montagu Evans
  • Sale of a 102,000 sq. ft office at Prime Four Business Park, Aberdeen, to LCN Capital Partners for £43.2m in March 2017.
    Deal Team: Drum Property Group; Brodies; FG Burnett; JLL; Royal Bank of Scotland; Ryden
  • 4North, Edinburgh. Pre-let of the property to Computershare on a 20 year lease at record rental level for offices in Edinburgh.
    Deal Team: Knight Property Group; CBRE; JLL; Computershare; Pepper Group 
  • Quartermile 3, Edinburgh. Pre-let of 65,628 sq. ft of Grade A office space to State Street Bank on a 15 year lease, 10 months before practical completion.
    Deal Team: Quartermile Developments Ltd; CBRE; Montagu Evans; M&G Real Estate

Demand for places in the finals is strong this year following a record high number of entries in the competition which assessed over 56 commercial property related companies operating in Scotland.  

Alasdair Humphery, Director at JLL and member of the judging panel delivered the news at a reception held on Thursday 1st February at the recently completed Courtyard by Marriott at Baxters Place in Edinburgh.  He commented:

“The Scottish Property Awards continues to grow and develop a high-quality awards programme which takes the decisions on finding the best in the market extremely seriously.  Our independent judging panel consists of a collective of the most experienced and successful individuals in Scottish commercial property including 5 new judges this year.    Very many thanks to all of them for their hard work assessing and debating the merits of each and every entry.”

The Scottish Property Awards will be presented by Scottish comedian and broadcaster, Des Clarke and news, sport and entertainment presenter Amy Irons.  The event takes place on Thursday 3 May 2018 at the Glasgow Hilton.