THE rate of empty shops on Aberdeen’s premier shopping avenue has hit its pre-Covid numbers after a major regeneration effort.
Union Street was once Aberdeen’s main retail hub, but since 2009 faced competition from the Union Square complex with shops, restaurants and a cinema.
Richard Noble, a specialist in commercial real estate, mentioned that starting in August, the rate of vacant storefronts on the ground floor dropped to 18%, matching its February 2020 level.
This improvement is a result of a major community initiative, spearheaded by Our Union Street, aimed at cleaning the area and increasing the number of businesses operating there.
Mr. Noble reported to BBC Scotland News that the latest occupancy statistics were a “pleasant surprise”.
“Since 2020 we have seen the percentage rise from 18% to 25%, peaking in November 2022,” he said of the vacancy rate.
“Since that time the number of empty units has gradually been falling from a high of 48 to 34.”
He cited factors including a “gradual improvement in sentiment” since the pandemic, and a more flexible approach from landlords in relation to rent, incentives and lease duration.
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Mr Noble described an empty shops grant scheme launched by the city council last year as “crucial” and urged the local authority to consider a similar scheme for the upper floors.
He explained: “Given the success of the empty shops grant scheme, if a similar scheme could be introduced for upper floors that might encourage developers to show a bit more interest in these upper floors, then I think that would be money well spent.”
