At FG Burnett we have been monitoring the level of vacancies of ground floor units on Union Street for 5 years. The latest biannual survey took place on 2nd February 2025.
We reported in August 2024 that the level of voids had fallen back to pre-Covid levels, a continuation of a positive trend since the February 2023 survey. Unfortunately, the latest survey results halt that progress with the void level increasing from 18% to 21%, a total of 40 units being vacant as at the date of survey. This does include 1 unit that we believe has very recently ceased trading.
The notable closures since August last year include RBS, the Tourist Information Office and Bravissimo (who now only have Edinburgh & Glasgow shops in Scotland). SK:N are no longer trading and Moossh have relocated. There have been a number of other less notable changes involving barbers/phone repairs and nail bar occupiers.
The decisions by RBS and Visit Scotland to close local branches are national ones and not Aberdeen / Union Street specific. The continual reduction in occupiers like these across our High Streets is unfortunate, those that are effectively public sector organisations should perhaps think longer and harder about the impact of their departure.
There are now only 6 banks and building societies represented on Union Street – Skipton, Virgin Money, HSBC, Nationwide, Barclays and Yorkshire. Some notable exceptions for Scotland’s 3rd City and it should be expected that this list will diminish further.
Our understanding is that all tourist information offices in Scotland will close by the end of 2025. Our view is that the importance of such centres to town and city centres goes beyond the growth of online booking and browsing for information. FG Burnett have promoted the idea of a cruise visitor/tourist information hub in the City Centre together with a “showcase” for North East Scotland produce/food and drink but have not had the required traction from relevant stakeholders.
We are experiencing a healthy level of enquiries for the shops we continue to market on Union Street and expect that other agents are seeing the same. Landlords are doing all that they can to attract tenants by offering competitive rents and rent-free periods. Landlords do not control rates nor the quality of the public realm / perceptions around safety. Interested parties are seeing the Union Street Empty Shops Grant Scheme as attractive together with Fresh Start Rates Relief (where applicable).
The work of Our Union Street and Aberdeen Inspired continues to be important especially around their efforts to advertise that our City Centre is open for business despite the current Bus Gate and LEZ negativity. Much more needs to be done to improve the customer experience being adversely affected by the ongoing construction works between Bridge Street and Market Street, the current perception is that not enough is being done by the City Council and sadly it looks that way on the ground, evidenced by poor directional signage and graffiti on hoardings.
We hope that these latest survey results are a blip of the trend we have seen developing over the past 2 years.
