Industrial warehousing rents rose in both Glasgow and Edinburgh as the value
of land soared, according to Jones Lang LaSalle.

The latest European Distribution Warehousing Property Clock report shows
that prime warehousing rents rose by 4.1% in Glasgow and 7.2% in Edinburgh.
The figures confirm that Edinburgh is ranked 6th and Glasgow 13th out of 32
European cities for prime warehousing rental levels. The rent for a quality
warehousing unit in Glasgow currently stands at £6.75 sq ft and £7.25 sq ft
for Edinburgh.

The research, which shows rental warehousing rents are accelerating in the
UK as a whole, is based on the top open-market rent that could be expected
for a prime distribution warehousing unit.

Neil Cockburn, director of Jones Lang LaSalle, said that industrial land
values had risen as more owners recognised they could secure alternative
planning consent to transform their sites into residential, retail or
leisure uses.

"Despite the uncertainty in the capital markets, demand on the occupier side
remains good with a number of larger Scottish-based manufacturing companies
looking at potential re-locations."