William Eichler 04 February 2020

Aberdeen council considers selling buildings for £45m

Aberdeen council considers selling buildings for £45m image

Aberdeen City Council is considering selling off hundreds of public buildings in an attempt to find millions of pounds of funding.

The cash-strapped council is considering selling around 90 industrial units, 15 offices, 75 shops and 130 ground lease properties, which are valued at £45m.

It is estimated that collectively these sites raise £5m a year in rent.

A spokesperson for Aberdeen CC stressed that at this stage they were only ‘seeking to gauge market interest’.

‘In 2019, as part of the council’s budget setting process, it was agreed to review its commercial property portfolio, which largely dates back to the former district and regional councils,’ they said.

‘At this stage Aberdeen City Council is simply seeking to gauge market interest in its commercial estate to inform future decision making.’

The spokesperson also noted that the portfolio excludes key strategic locations, such as strategic city centre sites, Marischal Square and The Events Complex Aberdeen (TECA).

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