Leading Scottish independent firm of chartered surveyors DM Hall, together with property agents, Ryden LLP, have secured a second new tenant for one of the seven recently refurbished industrial units at 1-7 Crombie Road, just a short distance to the south of the city centre and part of an established industrial area in close proximity to the Port of Aberdeen.
Trojan Crates, a rapidly expanding Aberdeen-based business, has secured 6,130 sq ft of space on a new 5 year lease. Joint agents DM Hall and Ryden represented the landlord, In-Site Property Solutions Ltd in this transaction.
Alana Paterson, Business Development Manager, Trojan Crates, said: “Due to the recent substantial growth of Trojan Crate’s CNC/Case Division, the requirements for suitable premises moved to the forefront of our priorities.
“We are fortunate to have located a building near our current location. It ensures minimal disruption and accommodates our growing plant of machinery and staff as we continue to produce high-quality bespoke packaging solutions for customers.
“Our dedicated team are ready to progress in the weeks ahead with the preparations for the transition to our new premises on Crombie Road. We are excited about the opportunities this new workspace presents, and it allows us to continue with our plans to grow our current international oil and gas footprint and continue our expansion into new industries and markets.
Ruari MacIntyre of DM Hall said: “Due to a requirement for additional industrial accommodation, the management team at Trojan Crates had been keeping a close eye on the refurbishment of the development being carried out, as its current premises lie adjacent to Unit 2.
“This is the second of what we believe will be, over time, a steady stream of established businesses recognising a first-class opportunity to place themselves at the centre of north east Scotland’s commercial activity by availing themselves of premises appropriate to their ambitions.
“We currently have 5 additional units available, in respect to which there has been a reasonable level of interest.”
The Crombie Road units’ location benefits from good access onto the main trunk road network, most notably Wellington Road which links onto the Aberdeen Western Peripheral Route and A90 trunk road.
The five remaining individual units, range in size from 1454 sq. m. (15,653 sq. ft.) to 466.86 sq m (5,025 sq ft). Rental prices are available on application. Each unit provides an internal eaves height of 5.6 metres and are constructed from a modern steel portal framework.
All units have recently undergone a full programme of refurbishment to include replacement of all roof coverings and external cladding (to the front elevation), replacement of all vehicle access doors, renewal of all external doors and windows, clearing, rodding and re-lining of all rainwater goods, internal redecoration of workshop flooring, walls and structural steelwork and refurbishment of internal offices/staff amenity blocks.
In addition, each unit includes office and staff toilet facilities, and a concrete forecourt is located to the front of each for servicing and car parking.
Mr MacIntyre added: “Generally speaking, the market remains challenging, with a significant imbalance between demand and supply of some assets, particularly older stock with large floor areas.
“Both rents and capital values have been under pressure as a result, combined with weak investor sentiment toward the city.
“There are, however, indications that values are beginning to stabilise having regard to the extent of value reduction experienced in the market. Overall, the occupier market tends to be focussed on smaller requirements, albeit tenants are typically looking for good quality space, on flexible terms, ideally without the requirement for any fit out.
“Full details of the size and rateable values of all remaining units are available on DM Hall Aberdeen’s website with prices available on application.”
DM Hall, now in its 126th year, has 23 offices across Scotland and earlier this summer expanded into the North of England with the acquisition of Hyde Harrington, an established firm of Chartered Surveyors based in Carlisle and Kendal.