Aberdeen’s commercial property market remains buoyant, according to senior surveyor James Morrison from market specialist Shepherd.
Mr Morrison, who works in the firm’s Granite City offices, said: “Aberdeen continues to form one of the prime commercial markets within Scotland and the UK as a whole.
“The city’s property market, whether from an occupier, purchaser or investor viewpoint, is still driving forward.
“In particular, the strength of the Aberdeen office and industrial property market continues to be driven by the North Sea oil and gas industry and the buoyant service and training sectors that go hand in hand with it.”
As many residents and visitors will be aware, large numbers of new-build commercial facilities are currently under construction in and around the city.
Mr Morrison said: “This growth is a reflection of continuing demand, historic under-provision of accommodation and a lack of speculative development.
“In more recent times, however, as a result of continued strong occupational demand within the city and increased availability of funding, developers are now building speculatively with the knowledge that the demand for good quality accommodation will result in minimal void periods.”
Pre-let activity is strong at various new and existing business parks around the city and in the shire, while announcements are expected soon for further development at Silvertrees in Westhill.
Mr Morrison said: “Despite substantial levels of new-build accommodation now being available, continued demand is being seen from owner-occupiers seeking accommodation available with quick entry to allow contracts to be serviced.
“This requirement for quick entry has led to increased demand for property within the secondhand industrial market, with a number of large industrial facilities having concluded within the first half of 2014.”
These include the sale of an industrial facility in Broadfold Road, Bridge of Don, for £2.52million, another sale in Lawson Drive, Dyce, for £2.3million and a long-term lease at £95,000 a year for industrial premises in Broadfold Road.
Shepherd’s surveyors acted for the landlords in these deals, whose swift negotiation further reflected the buoyant market locally.