Aberdeen property firm bouncing back
One of the North-east of Scotland’s top commercial property consultancies has hailed a strong year, after sealing a deal every three working days.
Aberdeen-based FG Burnett said it had recorded 92 commercial property transactions across the office, retail, industrial and development sectors over the course of the year.
Bosses at the firm said that despite “challenging market conditions”, the number of deals transacted in the office sector was approaching the levels prior to the oil price slump in early 2015 and was “indicative of growing optimism” in the energy and property sectors.
They pointed to an increase in the level of tenant representation work, both for existing clients and new entrants to the oil and gas market.
The firm has been involved in more than 170,000 square feet of office transactions in 2019. This equates to about a third of the total annual office takeup, it noted.
Head of agency at FG Burnett, Graeme Nisbet, said: “The number of deals recorded is testament to the hard work of the agency team and the wider support of the company.
“We have been operating in a very difficult market for the last few years due to the oil and gas downturn which has had a direct effect on the local property market with supply and demand at opposite ends of the spectrum.
“Thankfully we are now seeing more positivity in the market and this has translated into renewed demand. There are still challenges ahead, however, but with challenge comes opportunity.”