An Aberdeen commercial property expert believes Union Street has added quality and quantity in the past six months.
Richard Noble, managing director of Aberdeen commercial property firm FG Burnett, believes positive incentives have helped Union Street become more attractive for businesses.
Work from Our Union Street, flexible rent and lease options and fresh start relief from business rates are all playing their part, according to Mr Noble.
He has also disputed claims businesses appearing on Union Street have been low quality.
Quality businesses have appeared in Union Street units, says expert
Mr Noble has addressed complaints the quality of occupiers coming in on Union Street have been “rather unexciting”.
He said: “That has not been the case in the last six months, with many of the new entrants delivering interesting uses and quality shop fits.
“These include on the north side 474 by CUP, Lolo and Co and Jamieson and Carry.
“On the south side Chaiiwala, Popeyes, Thistle Tavern and PDSA.
“It is accepted that a few other new entrants are not as attractive.”
Union Street could see another business after it emerged plans have been submitted to turn the former Bank of Scotland branch into a new kebab restaurant.
Mr Noble said Union Street “does not look as it did in its heyday”. However, he feels a number of things can be done to improve the area.
He added: “We have stated before that the street has changed from being the city’s main retail thoroughfare and now offers a different range of services – in particular food and beverage.
“It will continue to evolve and with continued commitment from the relevant organisations it can end up in a much better place in the short to medium term.
“However, for that to become a reality significant public realm improvements must form part of the plan.
“That means a step change in the amount and quality of street furniture, tree planting and a new level of commitment to the required cleaning regime.”
Are incentives helping to fill Union Street units?
Mr Noble walks the length of the Granite Mile every six months to see how many retail units are empty.
His latest stroll revealed the number of vacant units has dropped, with just 34 ground floor units sitting empty.
In November 2022 vacancy rates were at a high, with 48 units sitting empty.
Since then, Mr Noble feels a number of contributing factors have led to “positive changes” on Union Street.
Fresh start relief from business rates as well as a flexible approach to rent has added more businesses.
He said: “There have been a number of contributing factors to the positive changes.
“Including a gradual improvement in sentiment post-Covid and a much more flexible approach from landlords in relation to rent, incentives and lease duration.
“The positive contribution by the Our Union Street organisation should be applauded.
“They continue to do excellent work aided by their army of ‘glass half full’ volunteers.”
Our Union Street was set up as business leaders took on the challenge of restoring it to its former glory.
Mr Noble continued: “Whist it is a combination of all these positive factors that has led to the improved situation on Union Street, our experience is that it’s the Union Street Empty Shops Grant Scheme that has been crucial.
“It appears to have been extremely well managed with applicants feeding back very positively on the grant application and delivery process.”
Upper floor units seeing ‘healthy level’ of enquiries
Mr Noble confirmed FG Burnett is experiencing a “healthy level” of enquiries for upper floor units. He also expects other agents will be seeing the same.
He said: “Managing Union Street is an ongoing requirement, enclosed shopping centres are actively managed by their owners.
“Whilst the multi ownership nature of Union Street makes it difficult, marketed effectively by an entity on behalf of the occupiers could have considerable merit.
“Our Union Street and Aberdeen Inspired seem well placed to develop that idea.”
Conversation