We have successfully secured a 10 x 5 year FRI lease extension to Aggreko Ltd at Minto Drive, Altens Industrial Estate. The building extends to approximately 8,000 sq ft with an extensive yard. The new rent secured is 90,000 per annum, up from the previous rent of 53,000 per annum.
The second Aberdeen deal involves a new 10 x 5 year FRI letting which has been secured at Unit A1 / A2 Blackness Trading Estate, Altens. The lease is to Union Supplies Limited at an initial rent of 70,000 per annum. The building, approximately 10,800 sq.ft., requires refurbishment and the tenant has agreed to carry out significant improvements.
The final deal in Aberdeen is another 10 X 5 year FRI lease extension, this time to Rexel Senate Limited. The property is at Cloverhill Road, Bridge of Don, and comprises approximately 20,800 sq.ft. plus yard. The initial rent is 192,000 per annum.
Pamela Gray, Partner and head of commercial property asset management, said: "Only by working closely with the tenants and understanding their specific requirements, did we manage to secure good quality tenants on long lease terms for our landlord clients. This close landlord-tenant relationship is becoming increasingly important as businesses are continually changing to deal with the current economic climate."
Whilst the industrial market in Aberdeen remains strong, with current rental levels achieved holding up well, tenant retention is now of great importance for landlords throughout the city.
We have an experienced team of commercial property experts throughout Scotland, visit the commercial section of our website for more information.