Commercial property: North-east industrial market gaining traction

By Keith Findlay

August 18 2022, 6:00 am

FG Burnett secured a letting of this modern, refurbished 9,000sq ft office and workshop building on Kirkton Drive, Dyce, Aberdeen.

FG Burnett has reported an upturn in deal activity in the north-east industrial property sector.

And as new opportunities emerge from the energy transition, with Aberdeen and Peterhead also potentially gaining green freeport status, hopes are high that the trend will continue.

FG Burnett said it had recently acted on behalf of a string of private and corporate sellers and landlords in the disposal of several industrial sites across Aberdeen city and shire.

There is every hope demand for industrial property throughout the region will remain, if not increase.”

Graeme Watt, director, FG Burnett.

Property sales the Aberdeen-based property consultancy helped get over the line include deals for Augusta House, in Blackburn, and Brimmond House on Kirkhill Place, Dyce, Aberdeen.

Augusta House, which extends to about 7,000sq ft, was sold by an English property investor to a local private buyer after a short period of marketing.

Brimmond House, which extends to more than 9,300sq ft was also sold to a private buyer and has subsequently been let.

New lettings in Dyce and Inverurie

And acting on behalf of two private landlords, FG Burnett has let office and industrial space in Dyce and Inverurie.

On Kirkton Drive, Dyce, the firm has secured a letting of a refurbished 9,000sq ft office and workshop building on behalf of a corporate landlord to Pinnacle Re-Tec, a specialist in the maintenance and service of centrifugal pumps for the oil and gas sector.

Over at Souterford Avenue, Inverurie, an office and warehouse facility of nearly 12,000sq ft has just been let by FG Burnett on behalf of a local property investor to Aberdeenshire Council, acting for Aberdeenshire Health and Social Care Partnership.

FG Burnett director Graeme Watt said: “These sales and lettings reflect the continuing and emerging interest in industrial property as the market recovers.

“Industrial property across the city and shire has experienced a degree of resilience through the pandemic.

“With the change in economic conditions, including but not limited to the momentum created by energy transition and the hope of green freeport status, there is every hope demand for industrial property throughout the region will remain, if not increase.”