Gladman Developments’ Abercrombie Court in Aberdeen is proving a top draw with a multitude of investment sales and lettings confirmed in the last three months.
The surge in demand has encouraged Gladman to begin the second phase of construction, which will comprise a further 52,600 sq ft and offer units ranging from 1000-5000 sq ft.
MODS Management, Pangeo Subsea and CRC Evans have acquired units 1, 10 and 16 respectively, while four other units are all under offer and due to conclude imminently.
Units ranging from 2000-5000 sq ft have proved attractive to investors with three investment sales concluding recently at yields in the region of 8 per cent.
The flurry of activity means only 2000 sq ft remains available along with a 25,000 sq ft headquarter-sized building.
All the deals were managed by Aberdeen commercial property consultants FG Burnett. Senior surveyor, Dan Smith, said: “In the last two to three months we have experienced an extremely high demand from a variety of businesses which have identified Abercrombie Court as an excellent business proposition.
“The location, build quality and investment potential make it a win-win situation for tenants and investors alike and we are confident the remaining units will be snapped up quickly.”
It’s believed that Gladman is one of only a couple of companies who are currently building speculative commercial office space in Aberdeen.
Susan Pegg of Gladman Developments, said: “We are delighted that our development at Abercrombie Court has proved so popular with occupiers. We are confident that, although general market conditions in the UK remains difficult, further speculative development at Westhill is necessary to meet the demands of businesses that require modern office space in Aberdeen.”
Abercrombie Court is located at Arnhall Business Park and comprises of 78,500 sq ft of purpose-built, high specification office space in a range of units, including 1027 sq ft, 2212 sq ft and 5203 sq ft, as well as a headquarters building of 25,500 sq ft, ensuring the development can cater for all sizes and types of organisation.
Arnhall Business Park is now firmly established as one of the fastest growing business parks in Scotland and is headquarters for leading oil and gas sector companies Acergy, Subsea 7 and the Abu Dhabi National Energy Corporation (TAQA). Other occupiers at the park include Northern Offshore, NCS Survey, Kongsberg Maritime, Anixter, Abermed, Rignet and G5 Technologies.
Note to Editors
FG Burnett Ltd was founded in 1960 and the practice has now grown to become the largest firm of chartered surveyors and property consultants based in Aberdeen and Glasgow.
FG Burnett provides Scotland-wide coverage for a range of services including sales, lettings and acquisitions; building surveying; development consultancy; investment consultancy; property management; rating consultancy, rent reviews and commercial valuation and compensation.
The majority of FG Burnett’s technical staff are members of The Royal Institution of Chartered Surveyors, and using state of the art Information Technology, delivers professional expertise and intimate knowledge of the market place.
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