Uncertainty over independence is undermining Scotland’s chances of attracting commercial property investors, a survey has suggested.
Research carried out by commercial law firm, Nabarro showed the debate was having an impact on firms considering moving away from London towards other parts of the UK.
But the report allocated Aberdeen the top spot on its “city or town to watch table” due to its oil and energy-related economy.
It said the debate “did not overshadow confidence” in the Granite City – regarded as the economic engine room of Scotland.
The report stated: “Its oil-based economy will drive prosperity and confidence come what may.”
Richard Bains of property fund manager company Rockspring, which has office premises in Aberdeen, said: “A ‘yes’ vote for independence could mean a couple of years when the market is very turgid.
“But if anywhere bounces back quickly it would be Aberdeen.”
Aberdeen City Council’s enterprise, strategic planning and infrastructure convener Barney Crockett welcomed the remarks.
“Anything turbulent and uncertain is bad for business and that is magnified for commercial property,” he added.
“But Aberdeen has an incredibly stable environment despite this debate.
“I have been travelling around the world recently and this is the place everyone wants to be.
“The interest in the city is absolutely enormous and it has fantastic prospects.”
Research conducted by FTI Consulting on behalf of Nabarro surveyed 239 investors and interviewed 11 leading figures in the market controlling combined assets of over £150billion.
Not one respondent to the survey said they would be more likely to invest in an independent Scotland with 81% saying they would be less likely to invest and 15% saying there would be no change.
While nearly a third – 30% – of respondents said an independent Scotland would have no impact on the commercial property market, 55% felt the impact would be negative or slightly negative.
Only 11% thought a break from the union would be slightly or very positive.
Ciaran Carvalho, head of real estate at Nabarro “We were surprised by the negative response to the Scottish independence question.
“Investors don’t like uncertainty and it seems that they have been spooked by the political process and potential for devolution.
“For the Scottish economy to quickly absorb the consequences of full devolution, any newly independent government would have to work swiftly to iron out uncertainty around the currency and membership of the EU.
“Even if Scotland stays within the UK, it will need to react decisively to restore investor confidence.”
A Scottish Government spokesman said there had been significant growth in the commercial property market over the past year.
“And as this survey outlines, Aberdeen is one of the top five UK cities to watch.
“Foreign investment in Scotland as a whole in recent years is among the highest in the UK, and is now booming at a 16-year high.
“But with the full powers of independence, the Scottish Government could do so much more to strengthen our economy and create more jobs.”
A recent Press and Journal survey of 150 north-east business leaders showed 68% are opposed to independence.
Labour leader Ed Miliband said they made the “right choice” after hearing arguments put forward by Chief Secretary to the Treasury Danny Alexander and Finance Secretary John Swinney at an event in Aberdeen last month.
The poll showed support for independence was 16% with a further 15% of voters saying they were undecided.
