Subsidiary of Subsea in Union Plaza deal
By JIM DOW
STEWART Milne Developments, represented by CB Richard Ellis (Scotland),
has wrapped up another significant deal at Union Plaza, Aberdeen.
It has let the entire 17,925 sq ft second floor, plus 34 car parking
spaces, to Altra Energy, part of the Subsea Technology Group, on a
15-year lease at a rental of more than £400,000 a year.
The technology firm, represented by FG Burnett, is the fifth company to
take a lease in the 122,000 sq ft development. CBRE already has let
space to companies including commercial law firm, Paull & Williamsons,
oil technology company, AGR Peak Group and Aberdeen Asset Management.
Mike Robertson, managing
| 
Union Plaza - around only one-fifth of the space now remains unlet
director of CBRE in Aberdeen, said: “Union Plaza is a landmark
development for central Aberdeen and the quality of space provided is
being recognised by the market, as proven by the ongoing deals. With
only 25,000 sq ft remaining and the Aberdeen market continuing to thrive
even in the current climate, we are confident to identifying suitable
occupiers.”
Malcolm Deans, managing director of Stewart Milne Developments, added:
‘’We have received an excellent level of tenant interest in this
building since completion in the summer and despite challenging
conditions nationally we are pleased that our confidence in the Aberdeen
market has been successful and we are hopeful of putting further space
under offer early in the new year.”
|
More in store
A report by the Self Storage Association, and undertaken by Mintel,
reveals that the industry continues to remain resilient despite the
economic slowdown.
The findings estimate that the number of self storage sites has grown by
more than 10 per cent to 750 primary facilities in the past year,
generating revenues of approximately
|
£360 million and employment for 2,700 people.
The growth levels in terms of rental space available in 2008 have
remained consistent with the previous five years which have seen growth
rates of 8 to 15 pc. Despite an increase of more than two million sq ft
of new rentable space in the UK, however, penetration levels remain only
a fraction of those in mature markets such as the US and Australia.
|
| Successful varsity rates appeal
By Edward Marr
Many of Scotland’s colleges are over-rated - that is in the financial
sense, not in terms of competence
J&E Shepherd has shown that, as we reported in our last issue, with a
series of successful rating appeals which will save a trio of Scottish
colleges nearly £240,000 over the five years of the current valuation.
Now Ryden, acting on behalf of Napier University, Edinburgh, has
negotiated savings totalling more than £400,000 following a successful
rating appeal for the university's various college buildings throughout
the city.
The saving was backdated to 1 April 2005, the year of the rating
revaluation. The value amendments will remain in effect until the next
revaluation, scheduled as from 1 April 2010.
The saving in rates was brought about by discussions between Ryden,
and a number of other surveyors and the Scottish Assessors over the
valuation of universities and colleges throughout Scotland.
Ryden then negotiated the values applicable to each campus.
Patrick Hughes, director of facilities services at Napier, said:
"These significant savings will enable further funds to be made
available for educational facilities and assist in the funding of future
developments.”
|
