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