The property firm’s research found that French buyers purchased £183m of Scottish office buildings, retail outlets, industrial units, and other commercial property assets in recent months.

Those deals added to a series of others that have concluded since 2024, taking the overall figure past £450m over that period. French funds are now one of the most active international buyers in the Scottish market.

The consultancy said a big contributor to the trend was the attractive yields on offer in Scotland – particularly in Aberdeen and the shire, where more than 15 of the properties have been located, amounting to a total value of around £100m.

French buyers have been behind some of the biggest deals in Scotland during the last few years. Among them are the purchase of Edinburgh’s St James Quarter by Unibail-Rodamco-Westfield; 122 Waterloo Street, the Glasgow home of Morgan Stanley; 2 Greenmarket in Dundee, BT’s base in the city; and the Clydeside headquarters of STV.

More recent transactions include Episcap’s purchase of the Travelodge at 84 Academy Street in Inverness, Norma’s acquisition of 101-105 Sauchiehall Street in Glasgow, and Alderan securing 24-28 Frederick Street in Edinburgh, all of which concluded between February and March.

Around half of the total investment is accounted for by Société Civile de Placement Immobiliers (SCPIs), which are French open-ended property investment funds. Their purchases have included 40 Princes Street in Edinburgh, a healthcare facility on Mearns Road in East Renfrewshire, and the 3T Survivex training facility in Aberdeen.

Douglas Binnie, capital markets partner at Knight Frank Glasgow, said: “French investors have become one of the most active set of buyers in the Scottish commercial property market.

“Even when they haven’t been successful in buying an asset, they are usually among the underbidders. A big part of the attraction is the value on offer in Scotland, with yields higher than other parts of the UK and Europe.

“And that is especially true in Aberdeen, where buyer and seller expectations are comparatively aligned and you can pick up good quality assets on double-digit returns.”

Euan Kelly, capital markets partner at Knight Frank Edinburgh, added: “Within French investors, SCPIs have been involved in a number of deals across Scotland – particularly at the larger end of the market.

“These buyers tend to favour cleaner properties, with minimal asset management requirements, which can provide a return of at least 7% to satisfy the returns they offer to investors.

“As long as Scotland remains good value and the quality of the available stock coming through is right, we expect French investment in Scottish commercial property to continue.”