The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Construction Jittery over Scotland Uncertainty

12 September 2014 | Updated 01 January 1970

The report notes that the flow of Scottish private sector approvals from January to July has stagnated, remaining unchanged on a year ago, as the market suffers the effects of pre-referendum uncertainty. 

Glenigan data points to a reversal in the recent strong growth in Scottish industrial and commercial approvals, with the value of industrial, office and retail projects granted planning 43%, 24% and 59% lower respectively. This equates to a £234 million loss across the three sectors. 

Investor nervousness does not appear to have spread to the housing market, however, with private housing approvals 59% higher than a year ago. 

"The decline in private non-residential planning approvals and project starts, are not a direct vote of confidence for or against an independent Scotland,” explained Allan Wilén, Economics Director, Glenigan. "Rather, the drop in activity, which follows a relative positive performance in 2013, appears to reflect investors' temporarily deferring decisions due to political and economic uncertainty ahead of next week's vote.” 

Mr Wilén went on to state that he saw the danger was if these uncertainties persisted following the referendum. "In the event of a ‘Yes’ vote, it will be important that the key economic issues, from the currency to the operation of energy markets, are quickly resolved in order to provide the private sector with the confidence to press ahead with planned investments," concluded Mr Wilén.


Pictured: Allan Wilén, Economics Director, Glenigan – "In the event of a ‘Yes’ vote, it will be important that the key economic issues, from the currency to the operation of energy markets, are quickly resolved…”

Article written by Mike Gannon | Published 12 September 2014


Related Tags

Related Articles

UK's First Self-Driving Bus Launches

The UK’s first full-sized autonomous bus will take to the roads of Scotland for the first time. Stagecoach, in partnership with Fusion Processing, Alexander...

 Read Full Article
Eden Project's 'Cabinet of Climate Curiosities' at COP26

The Eden Project has partnered with international architecture practice Grimshaw in the delivery of the Eden Project Pavilion at the UK-hosted 2021 COP26, in...

 Read Full Article
Icebox Challenge – Glasgow's Energy Efficient Building Competition 

In the lead up to COP26, Glasgow is hosting a public installation to demonstrate the benefits of energy-efficient buildings. Students from across Scotland were...

 Read Full Article
Mitie Wins Maintenance Contract With Defence Infrastructure Organisation

Mitie has won a new seven-year contract to deliver maintenance services on the Future Defence Infrastructure Services programme for sites across Scotland and Northern...

 Read Full Article
Recycled Brick Made of Construction Waste is Awarded £1m Funding

A business has been awarded £1 million in funding by Zero Waste Scotland to commercialise the production of its brick made of recycled construction waste,...

 Read Full Article
Scoop to Futureproof Retail for a Post-Pandemic Future

One of the UK’s leading asset managers has appointed POD Architects to "future-proof" the Thistles Shopping Centre in Stirling. At a time when retail...

 Read Full Article
Crown Estate Scotland Appoints London & Scottish to Manage Urban Property

As of tomorrow (1 April 2021), London & Scottish Property Investment Management will take over the management of Crown Estate Scotland’s sole urban property at...

 Read Full Article
Galliford Try £54 Million Prison Contract

The UK construction group has announced that its Scottish business Morrison Construction has been appointed by the Scottish Prison Service to build a new women’s...

 Read Full Article
2020 Vision - MEP Contractor Appointed For Eye Hospital

NG Bailey has secured a £2.9 million project to deliver mechanical, electrical and plumbing (MEP) installations for a new eye care centre at the Golden Jubilee...

 Read Full Article
Getting On Top Of Energy And Vandalism

A primary school in Elgin, Moray, Scotland, has had a flat roof refurbishment which has improved the building’s thermal performance and provided a solution tough...

 Read Full Article