Invest in Peterhead highlights exciting business investment opportunities in town centre

An innovative new scheme highlighting the range of investment and development opportunities in Peterhead was launched this week.

Friday, 4th December 2020, 11:41 am
Updated Friday, 4th December 2020, 11:43 am
There are high hopes for future investment in Peterhead.

Invest in Peterhead (IIP) aims to capture the opportunities, identify gaps and promote available properties to potential investors in the town centre.

A working group of stakeholders including, estate agents, business owners, investors, developers, architects, Rediscover Peterhead and Aberdeenshire Council, aim through Invest in Peterhead to change perception and drive change within Peterhead town centre, focusing on the vacant commercial properties, attracting investment and changing perception through a two-year marketing campaign.

At Thursday's virtual online launch, John Pascoe, chair of Invest in Peterhead, said: “There is a renewed energy for the development of enterprise and commercial opportunities in Peterhead town centre which are about not only changing the perception of the town and its retail heart, but also seeing it as a hub for wider economic opportunities in Aberdeenshire.

“A number of recent developments point to this vision and ambition being turned into reality including more than £25 million of inward investment from good quality independents such as Brew Toon, The Printworks, Lettuce Eat Healthy and the new Arc Cinema and chains such as Aldi, Travelodge, Brew Dog - all recognising the potential in Peterhead with their investment in business premises.”

Central to the two-year initiative is a print and online brochure showcasing what Peterhead has to offer and featuring regularly updated examples of available premises which will be supported by a strong marketing campaign led by the local business improvement district, Rediscover Peterhead.

Among the first vacant properties to be promoted are the former H. Samuel, Wiseman’s, DFS, former Happit shop and Legion premises. Key business opportunities have been identified in a number of sectors including family dining, digital technologies, leisure and fitness, service sector, creative industries and convenience stores.

Having welcomed major industrial investment in the new fish market, expansion of the harbour, significant investment in logistics operations and creation of the floating Hywind wind farm, Invest in Peterhead is keen to stress that in addition to fishing and energy, the town has a dynamic economy with opportunities in arts and culture, food and drink, heritage, leisure, tourism and retail.

Councillor Norman Smith, chair of the council’s Buchan Area Committee and Peterhead Development Partnership, said: “There is a tangible transformation going on across the North- east and that is demonstrated by some very strong investment figures and ever-developing economic opportunities.

“As the largest town in Aberdeenshire, Peterhead is highly entrepreneurial, with many micro businesses and SMEs which add huge value to the economy and are complemented by large employers in a range of sectors such as engineering, marine, energy, textiles, and food and drink. I am confident Invest in Peterhead will bring even more investment to the town centre.”

With many towns and cities recording significant business closures – particularly in the retail sector – Peterhead has bucked the trend. High profile arrivals such as the Arc Cinema to Drummer’s Corner have been bolstered by a number of new outlets including Hay’s Travel, Bien’s Nails and RS Home Interiors on Marischal Street, Curvy Ladies and North-East Outlet on Maiden Street, Very Spexy on Broad Street and Sprinkles on St Peters Street.

Mark McQueen of Shepherd Commercial said: “There have been a number of lettings in Peterhead town centre since the nation’s initial lockdown due to the ongoing pandemic with new businesses opening during this period.

“This gives confidence in the area and the prospects of further lettings at a time when high streets in other locations struggle with a changing market.” Not only have new businesses arrived in the town centre, it’s been a time of individual success for some firms.

Senoritas has been recognised as a Nail Training Academy of the Year while WP Welding Services were named ‘Best Multi-Sector Pipe and Plate Welding Company 2020’ in The Scottish Enterprise Awards.

Peterhead councillor Dianne Beagrie, vice-chair of the council’s Buchan Area Committee, said: “We can be in absolutely no doubt that this has been a very tough year for all of our businesses – whether that has been in retail, leisure or hospitality. However we are seeing very real and welcome green shoots of economic recovery in our town centre and beyond which gives us real confidence for the future.”