Altec Centre Success

September 3, 2014

A multiple service offering has led to the full-letting of the 30,000 sq ft Altec Centre in Aberdeen. FG Burnett said a combination of its letting, building consultancy and property management services had succeeded in securing a third new tenant for the Altens business centre in the last six months. The five year lease of a 2500 sq ft unit to 3M Oil & Gas followed on from rental deals with fire protection specialist Tyco, ISIS Technical Services, a large multi-national oil and gas operator, and a lease renewal to an existing tenant. FG Burnett’s building consultancy division performed a quick turnaround on dilapidation work required after previous occupants vacated to have the units ready for incoming tenants.

FG Burnett has managed the business centre on behalf of landlords Braefoot Cox since 2008 and provides a full financial service covering rent and service charge management. The Property Management team also take care of the common areas, ongoing building repairs and maintenance and ensuring all common services are functioning properly. FG Burnett director, Jim Johnstone, said: “This integrated approach to leasing properties, adapting or upgrading them to each client’s requirement and the ongoing management of the fabric of the building, works extremely well for landlords such as Braefoot Cox. It streamlines the process of securing tenants and protects the owner’s investment by ensuring the asset is kept fresh, modern and safe, while retaining and hopefully increasing value.” The Albyn Place-based property advisors said the four deals, totalling 20,000 sq ft, underlines the continuing strong demand for good quality accommodation with access to Aberdeen city centre and surrounding transport hubs. Improvements to updating the entrance to the Centre, enhanced signage, the removal of old fencing, and redecorating internal common areas, had positioned the Altec Centre as a desirable location for doing business in Aberdeen.

Head of FG Burnett’s property management team, Christopher Yannaghas, added: “A co-ordinated approach to letting, refurbishment and ongoing management ensures that the Altec Centre remains a well-presented and modern trading environment for the occupational tenants. “There is very little stock currently available in and around Aberdeen and properties like the Altec Centre are benefiting from the ripple effect of a buoyant north-east market. With the Altec Centre now fully let, it is a reminder to businesses that if they intend relocating they must be thinking many months in advance to secure premises which meet their growth objectives.”

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