At Savills annual property seminar held on Wednesday, November 18 at the Chester Hotel Aberdeen, Savills announced the appointment of Graham Reid as Director of Development in Aberdeen.
He joins Savills with more considerable experience of the development sector in the North-east of Scotland, latterly as Land Director with Bancon Homes.
The global real estate advisor opened Savills Aberdeen office one year ago. Ben Brough, Savills Head of Residential Development in Scotland said:
“There is no denying that the local economy has experienced a period of transition over the last twelve months, with the majority of business sectors continuing to face turbulence, including property. In challenging market conditions the importance of good, solution-focused advice, based on an in-depth understanding of the local market and property fundamentals, becomes even more invaluable to clients. Savills is committed to Aberdeen for the long term and we are delighted that Graham Reid is joining us to drive forward our Development business in the North of Scotland, where we continue to see great potential.
“Land and property tend to be long-term investments. Just like oil, their short- term performance is heavily influenced by changes in demand and supply which can be dramatically affected by a range of factors, including the availability and cost of debt, the price of oil, and more generally, consumer confidence. It is important to retain a degree of perspective regarding the current challenges in relation to the oil sector, and to identify and work through strategies that can minimise and protect against any short-term risks in order to deliver longer term value.”
Graham Reid commented: “I’m very much looking forward to combining my surveying, banking and house building experience with the impressive, wider Savills offering in order to help formulate and deliver strategies for clients.
“In this new, challenging economic climate, a collaborative and pragmatic approach is required to deliver new homes and create value. There is a requirement for local authority planning departments, landowners and housebuilders to work together to reassess existing consented schemes, ensuring they remain viable. Housebuilders must be able to adapt to market conditions as quickly as possible to provide the market with what it needs. A flexible and reactive planning regime is the key to facilitating this.”