News

It is heartening to see that retail deals are being concluded in Aberdeen despite the challenging economic background. Agents FG Burnett report that they have completed a number of deals recently. The former Nova property at 20/24 Chapel Street has been sold to a private investor and following refurbishment is now occupied by “Copper & Grey”, a second unit for them following the success of their Banchory branch which opened in 2018. Owner Katherine Canning said “We are delighted to be opening a new store so quickly. It has been a difficult few months for many businesses and we couldn’t … Read More →

In disappointing news, especially for north-east ratepayers, the Scottish Government has announced that the 2022 business rates revaluation is postponed by one year to 1 April 2023 in line with England and Wales. However, in a different approach to south of the border, the 2023 Revaluation will be based on levels of value prevailing at 1 April 2022 (England & Wales 1 April 2021), a move to a one year valuation date in place of the previously long-standing two year period. The measure to have a one year “tone” date brings forward the recommendation in the Barclay Review of Business … Read More →

The Scottish Government has announced a one year extension to the statutory deadline date for disposing of all 2017 Revaluation appeals to 31st December 2021 instead of 2020. The extension to the end of 2021 also applies to all other appeals with a disposable deadline of 31st March 2021 and this is particularly relevant to material change appeals submitted following coronavirus (tens of thousands across Scotland). This change follows the interruption to the appeal resolution process brought about by the COVID-19 pandemic which saw a suspension of all Valuation Appeal Committee activity. This is welcome news, especially for those very … Read More →

Back in February I carried out a survey of Union Street’s commercial units; how may vacancies there were amongst the 188 total on its North & South sides. It’s fair to say that everyone’s world has changed since February. I carried out the 6 monthly survey again yesterday. Union Street had changed hugely given the physical distancing measures that have been put in place but there have been relatively few changes in occupational terms. Note that the survey reflects the situation as at a specific date even although there will, as always, be deals in the pipeline. The number of … Read More →

Following the recent office relocation announcement by Prosafe to The Silver Fin Building, property consultancy experts, FG Burnett has been retained to dispose of Prosafe’s former office site in Aberdeen.  There have been several other new listings and sales of office buildings in the area over the last few months as owner-occupier companies decide to relocate or take advantage of current commercial property market conditions as an opportunity to change their property asset model from ownership to rental.  A liquid asset base is key in a difficult oil and gas market which the North-East is currently witnessing and many office … Read More →

We are delighted to offer Halliburton House to the market on a For Sale / May Let basis. Halliburton House was constructed in 2007 and provides high spec modern office accommodation over ground and two upper levels.  Built around a central core, the building offers a high degree of flexibility and has been sub-divided to create modern offices, meeting, project and boardrooms.  There is a management suite at first floor level which benefits from an internal atrium enhancing natural light throughout the building. At ground floor level, there is a gym, large canteen facility with small commercial kitchen and, when … Read More →

This has been and continues to be an unprecedented period for businesses across Scotland and one which is arguably having a disproportionate effect on the north-east economy. The chances are your business has been negatively affected in some way by the coronavirus pandemic. Operationally, fixed property assets will have been reviewed and in many cases closed up completely. What does this mean for business rates and what can businesses do to alleviate the rating burden during this challenging time? The effects of the pandemic have naturally dominated the headlines but there are opportunities that may be missed. Many businesses at … Read More →

We act on behalf of a private client who has a requirement for an Industrial Property Investment in the Central Belt of Scotland (Glasgow or Edinburgh area). Quality of both tenant covenant and the building is important whilst a 6%- 8% net internal yield would be acceptable. Our client is looking to place funds for the medium to long term rather than for an angle or for something to work on. Click here for flyer. Location: Central Belt – Glasgow, EdinburghPrice Range: £2.5 – £5MTenure: FreeholdContact: Graeme Watt E: graeme.watt@fgburnett.co.uk T: 01224 597533M: 07831 197170

As from 5 May 2020, the updated scheme enables ratepayers of properties in the retail, hospitality and leisure sectors, who were previously ineligible for support, to access the Small Business Grant Fund. Ratepayers operating properties in retail, hospitality and leisure where individual rateable values do not exceed £18,000 and their cumulative rateable value is between £35,001 and £51,000, will now be able to apply for the Small Business Grant Fund for each of their retail, hospitality or leisure properties. Previously, this part of the scheme restricted the cumulative rateable value to £35,001. Note also that the scheme now enables multiple … Read More →

In light of recent Scottish Government announcements beginning to address a return to our workplaces, it is clear that this will be a gradual and incremental process. Whether you occupy office, retail, warehouse or industrial premises it is likely that some form of alteration to your working practices or physical building alterations may require to be undertaken in the short term to comply with continued social distancing measures for some time to come. The Building Consultancy team at FG Burnett are on hand to assist you in this process and specifically in the following areas: -Workplace review/Space Planning -Workplace redesign/adaptation … Read More →