Property experts team up to solve Aberdeen’s office space conundrum

Their commercial property investment seminar aims to fill empty units and drive footfall back into the city centre.

By Keith Findlay

May 30 2024, 6:00 am

l-r SJA Property Group directors Shaun Murray, James Duguid, and Ali Pittendreigh. Image: Breakwater Agency

Property firms have joined forces to tackle one of the biggest challenges currently facing the commercial market in Aberdeen – unused office space.

The Granite City is not short on supply when it comes to empty office accommodation.

But the very best space – meeting Grade A specifications, with all the latest energy efficiency features coming as standard – is extremely scarce.

Meanwhile, property owners can struggle to find new occupiers for some older buildings. As a result, Aberdeen has a large number of derelict office properties.

These often become an eyesore until, inevitably, the bulldozers move in.

But some of these properties are in good shape and could be an ideal home for firms.

Experts get their heads together to find ways of filling city’s vacant space

Aberdeen firm SJA Property Group is tackling the whole issue head on.

It has organised a commercial property investment seminar to try to fill some of the empty units and drive footfall back into the city centre.

Industry professionals from architecture firm Space Solutions and commercial property agent FG Burnett will be on hand to provide guidance on operating in the local market.

The event will cover everything from funding through to optimising space to maximising returns on investment.

Aberdeen has a two-tier office market. Grade A space in buildings like Marischal Square, pictures, is scarce. But there is no shortage of vacant space in older buildings in the city. Image: Scott Baxter/DC Thomson

SJA director Shaun Murray said: “Aberdeen is filled with incredible buildings but, sadly, a great deal of these lie vacant.

“It would be great to see a buzz around the city and for more people to work and shop within the area.

“We believe the best way to achieve this is to make commercial office space as attainable as possible.”

Shell's old building in Tullos, Aberdeen. — Older buildings, particularly outside the city centre, can be hard to fill. Shell’s old building in Tullos, for example, is currently being torn down. Image: Darrell Benns/DC Thomson

Seminar speakers include Kenny Cope, director at Space Solutions, who will pass on his tips for spotting “value add opportunities” and explain how to make the most of property income through design.

Richard Foster, head of rating at FG Burnett, will deliver insights into business rates.

SJA has also drafted in commercial property expert Jerry Alexander and Small Self-Administered Scheme pensions consultant Bryn Walker for next month’s seminar.

Mr Alexander will give an overview of commercial multiple occupancy (CMO) and how investments in this part of the market can form part of personal pension strategies.

Commercial multiple occupancy a ‘win-win’ for landlords and tenants

Mr Murray added: “We’ve met so many small businesses looking for traditional office space, but are put off by the lengthy contracts and risk associated with a traditional lease. CMOs reduce the risk for the landlord and the tenant, so it’s a win-win really.”

The seminar will take place at the Crown Plaza Aberdeen Airport Hotel on Thursday June 13, from 9am-5pm. Tickets cost £95, including VAT, and can be purchased via SJA’s page at facebook.com/SJAPropertyGroup