CASE STUDY: THE FORMER PRINTWORKS

Aberdeenshire property company Burnhaven Properties has opened 10 serviced apartments in Peterhead’s old print works building. The company targeted the local business and leisure markets following a £533k funding package from Bank of Scotland.

The firm purchased ten one and two bedroom apartments in the former Buchan Observer Printworks building, near the North Harbour and close to the centre of Peterhead, following a full renovation of the building. The business has successfully identified a gap in the market here in Peterhead for both the corporate and tourist markets and with the latest figures from Aberdeenshire Council recording a total 441,000 overnight visits from tourists to the area in one year alone, the demand is clear.

“The purchase & conversion of the apartments in Peterhead felt like a natural step for the business.

I have been project managing the restoration of the historic Caley building in Peterhead and so have spent a lot of time in the town recently. This has given us a sound knowledge of the local market and when the chance to acquire the apartments in the Buchan Observer office was presented to us we decided this was an ideal opportunity. We are expecting a mix of corporate guests as well as those visiting the area and have started to receive our first bookings already. The oil and gas industry generate a lot of business activity in the surrounding area, which we knew would create demand for this type of accommodation. With a number of golf courses located close by, including Donald Trump’s International Golf Links, golfing tourism also presents an opportunity for the business to capitalise on visitors from outside the UK.”

Sandy Murray

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