For years, Altens has been Aberdeen’s forgotten industrial estate – slipping further into decay with each new “to let” sign.
The huge coastal expanse boomed when the oil industry was at its peak, with workplaces being built in rapid order to house burgeoning workforces.
When the oil and gas downturn struck the city, Altens was hit hard.
Many firms closed down, or relocated their business.
By last year, there was one million square feet of vacant property in the area – equating to about a third of Aberdeen’s industrial supply.
But a decade on from the downturn, things might finally be looking up.
Altens Industrial Estate could be poised for a comeback as the home to a growing green energy sector.
ETZ Ltd, the not-for-profit outfit set up by tycoon Ian Wood to spark a jobs bonanza in the north-east, is in the midst of turning it into a haven for renewable energy firms.
And the organisation has now exclusively revealed just how £1.56m has been shared out among companies to rejuvenate abandoned buildings or future-proof their own ageing premises.
Some have been empty for as long as eight years.
We take a look at the seven buildings being revitalised:
AJT Engineering
The engineering firm, who specialise in repairing and manufacturing offshore equipment, are just one of the oil and gas firms benefiting.
After securing a grant from the ETZ Property Improvement Fund (PIF), they were able to expand their Blackness Road site in Altens.
The cash from the grant allowed AJT Engineering to create a new renewable energy division, and increase its workforce.
Air Liquide
The French company are one of the world’s biggest in the gas industry, supplying industrial gases across five continents.
And their involvement in the PIF has allowed them to create more jobs in the Granite City through their site on Greenwell Road.
The PIF offers grants of up to £250,000, and the gas giants have put that to good use, expanding into lower-carbon markets with further employment.
Aberdeen One Property finds new tenants
Aberdeen One Property were one of the many commercial businesses which suffered from the oil price crash of 2014.
They purchased properties in Altens, which due to the downturn, ended up lying empty for years.
But now thanks to ETZ and the PIF, they managed to find new tenants to occupy their vacant property with the promise of a spruced up workplace.
Funding was awarded to give their vacant site on Crawpeel Road a makeover, and local firm Ross Safety and Survival moved in.
Martin Ross, managing director at the safety equipment firm said the grant “played an instrumental role in securing our tenancy”.
BB Minto
BB Minto specialise in purchasing and selling industrial property.
And they are another of the many Aberdeen businesses to benefit from ETZ investment.
They purchased a workshop on Minto drive, and thanks to ETZ covering up to 25% of the cost, they now aim to refurbish it and get tenants connected with green energy into Altens.
Sinomine Specialist Fluids
The Aberdeen drilling fluids firm have been supplying the oil and gas industry with cesium formate for more than 25 years.
Sinomine Specialist Fluids are another Aberdeen business which have benefitted from the PIF, as they moved into a new premises thanks to the grant.
They were able to move to a new site at Hareness Circle, allowing them to further production of drilling fluids for the oil and gas industry.
Epic Alva
Epic Alva are another property company who have joined forces with ETZ to get Altens back to where it once was.
They purchased 7 and 8 Souter Head Road, with a view to refurbishing the buildings and attracting new industrial tenants.
David Mitchell, partner at Epic Alva, said: “Our decision to make the purchase was based on the vision of ETZ.
Mr Mitchell also added that the funding amounted to 25% of the cost of the building, which will help lead to a full facelift.
West Coast Estates
The family-owned property firm is no stranger to Aberdeen’s industrial property scene.
The firm are experts in turning buildings around and leasing or selling back to oil and gas companies, with previous work carried out in Dyce.
And now they have their eyes set on Altens, as they have refurbished a 20,000 sq ft warehouse on Minto Drive.
Just like the other property firms involved, they will aim to get low carbon energy tenants back into Altens, with support from ETZ.
How does the fund work?
ETZ’s property investment fund aims to turn brownfield sites in Altens back to their former hustling-and-bustling states.
The PIF has given more than £1.5 million to seven businesses to either move in and start work from a property, or renovate the property with a view to leasing.
Firms can receive up to £250,000 for either moving in to, expanding or renovating premises in Altens.
What’s next for Aberdeen’s energy sector?
Aberdeen has been rebuilding ever since the 2014 oil price collapse in which tens of thousands of jobs were lost across the north-east.
Initiatives like ETZ are beginning to bring back businesses to the Granite City, and fill up brownfield sites across industrial estates such as Altens and Dyce.
It is also understood that Aberdeen is one of three places shortlisted as a potential HQ for GB Energy, with Glasgow and Edinburgh also contesting for the role.
Those behind the bid to bring those jobs to the north-east point at the growing renewables sector as one major reason.
Read more:
- Neil Young: Decade on from downturn, ETZ is bringing brighter future to Aberdeen with building revamp cash
- Confidence grows Aberdeen will be chosen for GB Energy headquarters
- Decade after downturn: How Aberdeen changed after oil price crash
- £2m Inverurie warehouse and Fraserburgh hotel among commercial property listings
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