An accident repair centre will become the first tenant of a newly refurbished Aberdeen industrial unit.
Halo Accident Repair Centre has agreed a new 10-year lease on Souter Head Road in Altens.
It will be located in unit two and will pay rent of £105,000 annually for the 9,108 sq ft property. Both units sit within the Energy Transition Zone (ETZ).
The deal means Epic Alva 1, a joint venture between David Mitchell of Manse LLP and a private investor, has just one property remaining at the site.
£1 million invested into Souter Head Road investment
Mr Mitchell said the team behind the Souter Head Road units spotted a gap in the Aberdeen market.
The refurbishments, which cost more than £1 million, were completed in September, and he believes picking up a tenant so soon after proves their worth.
Following the site acquisition at the end of 2023, Epic Alva 1 investments included newly insulated composite steel clad roofs and electric vehicle charging points.
Mr Mitchell said: “We identified that there is a real shortage of well located buildings, in excellent condition that benefit from large yards.
“These units now tick all those boxes, which is demonstrated by the fact that unit two has let so quickly.
“I am delighted with the work carried out by Morrison Construction and the project management led by CBRE.
“We are very grateful for the support of ETZ in providing us with a grant.
“This allowed us to go further in our refurbishment plans than we would have done.
“The end result is two buildings that are match fit for the next decade.”
Halo Accident Repair Centre is headquartered near Chichester in England and is a spin-off from sister company PMC.
The firm claims it has an “enviable reputation for the quality and speed of accident repairs”.
Who could join Halo Accident Repair Centre?
Savills Aberdeen and Ryden have been advising Epic Alva 1 on its Souter Head Road units.
And Savills Aberdeen business space director Claire Herriot claims there has already been plenty of interest in the remaining unit.
She said: “There is currently a severe lack of good quality, detached industrial and logistics space in Aberdeen.
“The acquisition of the units on Souter Head Road is an excellent example of our client identifying an opportunity to buy an older scheme at a reasonable price and investing in it to deliver the products that occupiers require.
“We are very pleased to have let unit two and already have strong interest in the remaining unit.”
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