Who are Scotland’s richest MSPs? Inside their property and business fortunes

The financial disclosures published at the Scottish Parliament reveal wide disparities in outside earnings, property portfolios, and corporate holdings among elected members. The interests can include payment for work done outside of MSP duties, land ownership and any shares in companies they may have. It includes what is known as heritable property which is property they own or have a stake in but does not include property they own and live in. The register of interests does not include earnings MSPs may have from any roles as government ministers. It is publicly available and updated every time there is a change. MSPs must register any changes within 30 days. MSPs from the Scottish Conservatives and Reform UK are the two wealthiest in Holyrood, according to the latest register which was updated in the wake of the Scottish Parliament elections in May. But our analysis found MSPs from Labour, the SNP and the Greens all have heritable property investments worth substantial sums.

Alexander Burnett Leads Holyrood Wealth With Millions in Property and Business Assets

Scotland’s wealthiest MSP is Alexander Burnett. He has revealed that he expects to receive around £390,000 in income, some of which is paid in share dividends, from his businesses this year in addition to his Holyrood salary. Mr Burnett, who retook Aberdeenshire West for the Scottish Conservatives in May, has property and share holdings worth almost £50 million.

His business interests include a Banchory-based company AJA Burnett Estate, which is concerned in property and forestry leasing, and from which he expects to earn up to £260,000 in 2026/27, for up to one day a month’s work. The register states the market value of AJA Burnett Estate is in the range £18.1m to £18.2m. He is also a trustee and sole beneficiary of the Banchory Trust, which includes agricultural land, residential and commercial lettings, wayleaves, small biomass district heat networks and sporting interests and which owns property in Aberdeenshire of up to £17.2m.

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Mr Burnett has share holdings including £2.5m worth in North Banchory Company Limited, a property development and letting company and £11.3m in Bancon Developments Holdings Limited, a company concerned with the building, contracting, dealing, developing and managing of property.

Malcolm Offord and Other Wealthy MSPs Reveal Extensive Portfolios

The second most wealthy MSP is Malcolm Offord, the leader of the Reform UK in Scotland, who also has significant investments in property and in shares. The former banker hit the headlines in April when he told a STV election hustings that he owned six houses, six boats and five cars. Mr Offord, a former Conservative minister and peer, who defected to Reform in December last year, made the comments as he clashed with Scottish Green co-leader Ross Greer. He was elected to Holyrood for the first time in May and is an MSP for the West of Scotland.

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His register of interests reveals he has a property portfolio worth almost £6m as well as extensive business interests. It lists homes in Scotland, England and South Africa, as well as shareholdings valued at more than £3.5 million. Filings lodged at the Scottish Parliament show Mr Offord has five homes, with the most expensive a flat in the Kensington & Chelsea area of London that is valued between £1.7 million and £1.8 million.

Scottish Labour’s Irshad Ahmed is the third wealthiest MSP. Mr Ahmed was elected to Holyrood for the first time in May having topped his party’s list for Edinburgh and Lothians East – ahead of former MSP and chief whip Martin Whitfield, who lost his seat. He previously stood as a Scottish parliamentary candidate for the SNP and the late Alex Salmond’s Alba Party. The Holyrood newcomer has considerable property investments, owning a flat, a house and two commercial properties in Edinburgh and the Lothians area together valued at up to £950,000 and generating rental income for him of up to £60,000. He also works for 10 hours a week as a sub post master in Musselburgh for which he earns up to £30,000 a year, his declaration states.

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Commercial Properties and Shareholdings Across Party Lines

Fourth placed on the list of Scotland’s richest MSPs is Reform’s Senga Beresford, another MSP with a large property portfolio. Ms Beresford, a South of Scotland MSP, owns three commercial properties and a holiday let in Dumfries and Galloway, together worth up to £750,000 and generating rental income of up to £30,000 a year.

Fifth is Scottish Conservative deputy leader Rachael Hamilton who has shares worth an estimated value of up to £637,000 in a hotel company based in Melrose in the Borders.

“I hold 49% of the issued share capital in Borders Hotels Ltd (of the Green, St Boswells, Melrose). These are ordinary shares with an estimated market value of approximately up to £637,000. The company is a privately owned limited company, therefore its market value is difficult to determine and therefore this figure is not a true reflection of its value,”

Rachael Hamilton, Scottish Conservative deputy leader

she states in her declaration of interests. Sixth is Reform’s Mark Simpson who owns a flat in London worth up to £500,000.