Building Briefs – July 29th

• Housing minister officially opens new Aberdeen development

Built by Bancon Homes, the development consists of 36 two and three-bed houses with their own garden and ample parking spaces nearby. 

During his visit, Mr Stewart got to meet with new Castlehill tenants and see how they are settling in. Alanna Begg introduced Mr Stewart to her son Blake and over tea told him about the difference her new property has made.

Mr Stewart was welcomed by Castlehill’s chief executive David Lappin and met with representatives of organisations who were involved in the development, including Bancon’s managing director Gavin Currie.

These new properties were created in part through a grant of £2.2 million from the Scottish Government’s Affordable Housing Supply Programme and £645,000 from Aberdeen City Council. The private finance for development was provided in a loan from Unity Trust Bank plc.

Castlehill has further properties due for handover at Portstown Park and Westgate in Inverurie later this summer.

• Aberdeen industrial property market performance demonstrates further signs of recovery

Recovery of the industrial sector in Aberdeen is continuing following on from a record number of transactions last year, research from global real estate consultancy CBRE has found.

The performance of the Aberdeen industrial property sector is inextricably linked to the oil sector and last year, on the back of a more stable oil price, take-up was the highest it had been since the 2014 crash. The uplift in the energy sector continues to filter through to the market and for the first half of 2019, the take-up total was 254,751 sq ft. 

Whilst this was 23% down on the same period last year, the volume of transactions was particularly high, with 46 completed in H1 2019.  This is the same number of transactions completed during the whole of 2016, and the figure is the equivalent of 81% of the 5-year average for total deals transacted in a 12-month period.

Despite the clear appeal of new-build facilities in the city, there has been limited speculative development in Aberdeen due to a combination of factors including a drop in occupier demand, rise in levels of industrial supply, and exposure to vacant business rates.  The stronger occupier demand which is now emerging, however, demonstrates returning developer confidence and it is likely that further speculative development will take place in 2019, with schemes already planned in Dyce and a second phase at City South Business Park.

Smaller deals continued to dominate the market during H1 2019, with sub 10,000 sq ft lettings accounting for 57% of all transactions during the period. This reflects the increasing confidence in the Aberdeen economy - smaller companies are now comfortable in committing to taking new premises.

Industrial supply within Aberdeen has crept back up over the past six months despite dipping in 2018 for the first time in four years.  It now stands at 2.68m sq ft and, with the rate of rise being much more conservative than in previous years, this further suggests the market is levelling out.

• Young people’s residential care facility plan lodged for Carnoustie

Plans have come forward for a residential care centre for vulnerable youngsters to replace an existing Angus service branded no longer fit for purpose.

Land on the edge of Carnoustie has been identified by care provider New Breaks Ltd as a suitable location for two units to provide round-the-clock supervision for clients up to the age of 25.

The company already provides services to Angus Council and has now submitted a bid for planning permission in principle for the site south of Muirdrum junction on Carnoustie’s Carlogie Road.

• Retirement village and bowling green planned for St Andrews

A retirement village complete with its own bowling green could breathe new life into a long-neglected area along St Andrews’ southern boundary.

Developer First Scot Limited is seeking planning permission in principle for the development of what will be a dedicated hamlet on the site of the former Grange House just off Grange Road.

The plans would see 46 retirement homes built across a mix of nine, two and two-and-a-half storey blocks on land next to proposed new university accommodation.

• New Cowgate hotel and ceilidh venue proposed

Plans have been tabled to transform an Old Town nightclub and festival venue into a boutique hotel and ceilidh hall.

Proposals have been handed over to city council planners to turn the Cow Shed and Bar Bados into the new hotel, as well as a bar/restaurant and function room which could be used for weddings.

If approved, the current buildings on Cowgate will be refurbished into the 18-bedroom hotel, next to the Virgin Hotel site, currently under construction.

• Major roadworks at Cumbernauld’s Old Inns roundabout

North Lanarkshire Council is to carry out extensive resurfacing work on and around the Old Inns roundabout, just off the M80 at Cumbernauld.

As a result, a number of roads to and from the roundabout will be closed from 8.00pm on Friday 2 August until 6.00am on Monday 5 August. Eastfield Road, from the garden centre roundabout; Castlecary Road (B816), from the exit to the service station; Wilderness Brae (A8011), from the traffic signals at the M80 Junction 6 southbound slip roads and Northbound off/on slip roads from the M80 Junction 6.

The B816 Castlecary Road will also be closed from Old Inns roundabout to the Wardpark roundabout, from 06.00am on Monday 5 August to 6.00pm on Friday 9 August.

Signed diversions will be in place throughout these closures.