Discover the latest initiatives aimed at transforming Aberdeen's city center into a thriving business hub.
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Revitalizing Aberdeen: Opportunities for new businesses on Union Street
In the heart of Aberdeen, a transformation is underway that promises to breathe new life into the city center. With a series of ambitious projects and a renewed focus on attracting businesses, Union Street is emerging as a prime location for aspiring entrepreneurs.
Recent discussions led by local business leaders highlight the potential for growth and revitalization in this historic area.
Investment and Development in the City Center
Recent investments totaling £40 million are set to reshape the landscape of Aberdeen’s city center.
The construction of a new food and drink hall at The Green, alongside the revitalization of Union Terrace Gardens and the award-winning Art Gallery, showcases the commitment to enhancing the area. These developments are not just aesthetic improvements; they represent a strategic effort to attract foot traffic and encourage new businesses to set up shop.
Encouraging New Businesses to Take the Leap
During a recent event organized by the Aberdeen and Grampian Chamber of Commerce, over 100 potential business owners gathered to learn about the opportunities available on Union Street. With the number of empty units decreasing from 48 to 34 last year, there is a clear indication that interest is growing. The goal is to reduce this number to just 20 by the end of 2025, creating a vibrant business environment.
Bob Keiller, a prominent figure in the initiative, emphasized that now is the best time to invest in Union Street. With rental prices at their lowest in years, the financial barriers to entry are significantly reduced. For instance, a unit that would have cost £90,000 in rent and rates in 2023 can now be secured for just £36,000, thanks to various support programs offered by the local council.
Support and Resources for Aspiring Entrepreneurs
The support available to new businesses in Aberdeen is unparalleled. Initiatives such as 12 months of free rent for newcomers are designed to alleviate the financial strain of starting a business. Keiller’s vision for the future includes persuading property owners to lower their prices and invest in the improvement of their units, making it even more attractive for new ventures.
As the city aims to halve the number of empty units by the end of the year, the message is clear: there has never been a better time to consider opening a business in Aberdeen. With unique support tailored specifically for this region, aspiring traders are encouraged to take the plunge and contribute to the city’s economic revival.
For those interested in tracking available units or learning more about the support offered, resources are readily available through the Our Union Street and Aberdeen City Council websites. The future of Union Street is bright, and with the right support, it could soon become a bustling hub of activity once again.
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