Lettings success for newly built Aberdeen trade park despite pandemic woes

  • An Aberdeen trade park is close to being fully occupied after strong demand for space despite the economic fallout from the pandemic.

Following on from recent pre-lets, only one unit now remains available at The Crescent, Knight Property Group’s trade counter park development in the suburb of Westhill. The park was built speculatively by Knight and completed last March.

Recent deals have included retail chain Toolstation and The Paint Shed taking units on ten-year leases. The Paint Shed already has 17 locations across the UK and the unit at Westhill will be its first Aberdeen store.

James Barrack, managing director of Knight Property Group, said: “Securing Toolstation and The Paint Shed for The Crescent is very positive news, particularly in the midst of the current economic conditions and global pandemic.

“These deals underline the demand for this type of trade counter development in the Aberdeen market and the fact that our existing units at Kingshill Commercial Park are also fully occupied.”

Mark Gillies, director of property firm Graham & Sibbald, which advises The Paint Shed, said: “The Paint Shed had been searching for their first Aberdeen base for over two years with no success. So the opportunity to secure this exceptional Knight Property Group unit at The Crescent, Westhill, with excellent customer accessibility offered the perfect synergy for a long-term investment by the business.

“The new Aberdeen store will be the most northerly outlet for The Paint Shed and is a major step in the business expansion plans, covering the city and shire areas. The new unit is currently being fitted out and is set to officially before the summer.”

Graeme Watt, director of F G Burnett, added: “The popularity of this type of rare development in Aberdeen is particularly evident, as discerning occupiers continue to be drawn by quality, well-located product. Only one unit now remains available and we anticipate strong interest.”

Property advisers Ryden and FG Burnett are joint agents for Knight Property Group at The Crescent.

Knight Property Group is a long established commercial property development company based in Scotland with offices in Edinburgh and Aberdeen. It was founded in 1987.

Story originally published in The Scotsman.