Investigation reveals paucity of Scots owners of high street properties
AN estimated nine per cent of properties on Edinburgh’s main thoroughfare of Princes Street are believed to be owned by companies registered in Scotland.
The figure follows analysis by the investigative journalism website, The Ferret, and published in The Herald newspaper – here.
The figure for Glasgow’s Buchanan Street is 11 per cent, with The Ferret adding: “Across all [Scots] city centres, just 33 per cent of the properties were owned by Scottish companies – some via tax haven subsidiary firms.”
Says The Ferret, here: “We looked at the ultimate owners of all 3,444 shops, offices, car parking facilities and other commercial properties in the main shopping districts of Scotland’s eight cities listed by the Scottish Assessors Association.
“Nationwide, 28 per cent of high street properties were owned by companies registered in the rest of the UK – usually London – 27 per cent were owned abroad, while 12 per cent were owned by individuals or unknown entities.”
Pictured: Princes Street, Edinburgh, Picture credit: Place Design Scotland