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Independence vote stifling commercial property deals

UNCERTAINTY brought by next month's referendum on Scottish independence has caused a dramatic fall in commercial property sales in Scotland, with the exception of Aberdeen.

The total value of commercial property sales fell to £592 million in the second quarter of the year, down from £841 million in the first quarter, according to data from the Registers of Scotland (RoS).

The fall comes after the broader economic recovery sparked an increase in commercial property sales from the second quarter of last year.

The Scottish Property Federation said it expects investor confidence and growth to return once the referendum takes place.

The RoS data comes after The Herald revealed this week that some investors have been demanding independence clauses in property deals, allowing them to exit contracts in the event of a Yes vote.

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