Scottish
property federation launch
Scottish Property Federation - New way for Scottish property
Rhona Brankin, Scottish minister for
communities, today launches the Scottish Property Federation
(SPF) as the new voice for the property industry in Scotland.
The launch takes place at 18.30 in the Queen Anne Room at
Edinburgh Castle. The SPF will represent the commercial property
industry in Scotland, including property investors, developers,
professional advisors based in Scotland and other UK and
international investors who have interests north of the border.
The commercial property industry puts a roof over the head of
the economy by developing and renewing the nation's shops,
offices and industrial centres. With a market value estimated at
£51 billion, the Scottish commercial property industry is a
major presence in the nation's economy.
It is twice the size of the utilities industries, employs more
than 85,000 people and represents over 5.7% of Scottish annual
gross value added (GVA) - in excess of £5 billion annually.
The SPF will represent the views of the commercial property
industry directly to the Scottish Executive and Parliament. It
hopes to offer practical and technical assistance on policy
initiatives relevant to the industry.
With heavy political emphasis falling on sustainable economic
development and regeneration of urban areas, the SPF's expertise
will add a fundamental plank to the work already being carried
out by the Scottish Executive and Parliament.
These and other areas of interest are laid out in 'Growing
Scotland's economy', a report published by the SPF today.
The SPF will launch with 75 members, many from the existing BPF
membership, and a board that includes representatives of
Grosvenor, Land Securities, Standard Life, Royal Bank of
Scotland, British Land and Elphinstone.
The British Property Federation (BPF), of which the SPF will be
a distinctive part, has worked successfully in recent years with
government at Westminster, leading to more effective
property-related legislation and policy, including the
newly-launched UK REITs regime. The SPF will have its own staff
and offices in Edinburgh.
David Hunter, chairman of the Scottish Property Federation said:
"The significance of the SPF's formation cannot be overstated.
We will adopt a similar approach to working with the government
to that which has been so successful for the BPF. The
establishment of a single, permanent contact point
for ministers officials to test the views of our industry will
be a welcome move for all.
"As well as highlighting the major contribution which the
commercial property industry makes to the Scottish economy, we
are committed to constructively engaging in the policy debate
and we are confident that the SPF will raise the profile of the
industry right across the board."
Email: ateacher@bpf.org.uk