Aberdeen Industrial Booming As FG Burnett Complete £10 Million in Deals

Commercial property consultancy FG Burnett have completed six deals in Aberdeen worth more than £9.5 million and comprising of office and warehousing facilities exceeding 142,000 sq ft.

Four acquisitions on behalf of clients ranged in value from £1.35 million to £2.3 million with the two other transactions comprising of six and ten year lease agreements.

FG Burnett director Graeme Watt and surveyor Sara Mathieson represented Stena Drilling, Petrofac, Worldwide Oilfield Machines, Grayloc Products Limited, Oceaneering International Services Limited and Heli One UK in the series of transactions which underlines strength of demand for good quality industrial property in Aberdeen.

Graeme Watt said: “The demand for high quality second hand industrial buildings against a background of limited stock is proving a challenge for Aberdeen’s buoyant economy which is benefitting from a vibrant oil and gas sector. We are working hard to satisfy the expansion plans of a large number of clients and these recent acquisitions and leasings underline the fluidity of the market in the north east.”

The acquisitions included a 31,000 sq ft facility at Greenbank Crescent, Tullos, on behalf of Stena Drilling Limited, a 30,000 sq ft building on a two acre site at St Machar Drive on behalf of Worldwide Oilfield Machines UK Limited, acquisition of 25,000 sq ft of offices and warehousing at Silverburn Place, Bridge of Don, on behalf of Grayloc Products Limited, and the purchase of a 22,000 sq ft facility at Lawson Drive, Dyce, on behalf of Oceaneering International Services Limited.

A 10 year lease agreement on a 22,000 sq ft office and workshop building at Howemoss Drive on behalf of Heli One UK Limited and a six year lease agreement on a 14,240 sq ft office/workshop at Howemoss Crescent on behalf of Petrofac Facilities Management Limited were also concluded.

FG Burnett is currently marketing a number of buildings and sites of varying sizes for retained clients, including the sale of a 36,000 sq ft detached office and workshop complex at Burnside Drive, Dyce and a 17,800 sq ft office and workshop facility at Woodside Road, Bridge of Don both on behalf of Baker Hughes.