REAL estate advisor CBRE has released its market overview on the Industrial and Logistics sector across Aberdeen in 2020.
The Granite City market saw activity growing for the fourth year in a row, despite the wider economic challenges as a result of both the pandemic and the oil price drop.
Take-up for 2020 totalled 720,780 sq ft, up 1% from 2019.
Small transactions dominated the market with 41 lettings below 3,000 sq ft and 65 below 10,000 sq ft, however there was also a slight increase in activity in the 30,000 sq ft plus bracket with noted deals to Amazon and FedEx.
Iain Landsman, CBRE Aberdeen office associate director, said: “In Aberdeen the largest transactions were all for the best quality stock or pre-lets.
“This demand should result in further industrial development within the city and force landlords to upcycle and refurbish older industrial properties coming to the end of their lifecycle.”