A leading Aberdeen businessman has urged north east companies to buck up and avoid talking themselves in to recession.

Angus MacCuish is worried that loose talk is driving down industry in Aberdeen and claims the local economy is healthier than elsewhere. 

Mr MacCuish, managing director of commercial property consultant, FG Burnett, also claimed some banks are “taking liberties” with long established companies and failing to observe Government recommendations on borrowing levels. 

Mr MacCuish said: “I am very disheartened at the doom and gloom merchants who only seem to cheer up when they are predicting financial meltdown. 

“Businesses in the north east are not immune to what is going on, and the fall out from a continuing decline in the oil price would be a worry, but the economy is more buoyant than other areas of the UK and we need to be careful we do not talk ourselves down, and as a result, talk ourselves in to recession. 

“One of the major hurdles is that companies are short of working capital at realistic prices. I would go as far to say some banks are taking liberties with long established customers and they are threatening long standing relationships by their actions. This could be extremely damaging and appears to contradict the Government conditions on which the cash has been made available to them.”

With more than 25 years experience in commercial property in the north east of Scotland, Mr MacCuish believes his sector is a good barometer of how other areas of the economy are faring. 

And he cites strong occupier demand for premises in Aberdeen as an indicator that not all is as bad in the Granite City as some commentators believe. 

He said: “Property developers want to be doing business because occupier demand is strong and this is a significant differentiating feature in this part of the world. We have situations where tenants are competing for buildings and just in the last week we have experience of two major companies vying for the same space in a building. 

“There is some evidence of developers needing to move product on to raise cash to support challenges they are experiencing elsewhere in the UK but that could in turn provide opportunities in terms of land being made available for building much needed stock. 

“Our experience at the moment is that many companies out there are in the middle of significant negotiations and have made a major capital commitment for new facilities, that the positives outweigh the negatives by a considerable margin. 

“A lot of people in business in Aberdeen today went through the challenges of the mid 80s and came out the other side much more rounded, resilient and much better placed to deal with all the challenges ahead. 

“My day to day experience is in property but I think many people recognise that property is a relatively accurate barometer of what is happening in any economy. 

“We need to remain positive without being cavalier or complacent and avoid talking down this situation until it becomes the doomsday scenario that some of the more negative analysts would appear to hanker after.” 

ends 

Note to Editors 

FG Burnett Ltd was founded in 1960 and the practice has now grown to become the largest firm of chartered surveyors and property consultants based in Aberdeen. 

The company also has an office in Glasgow and provides Scotland-wide coverage for a range of services including sales, lettings and acquisitions; building surveying; development consultancy; investment consultancy; property management; rating consultancy, rent reviews and commercial valuation and compensation. 

The majority of FG Burnett’s technical staff are members of The Royal Institution of Chartered Surveyors, and using state of the art Information Technology, delivers professional expertise and intimate knowledge of the market place. 

Website: www.fgburnett.co.uk 

Issued on behalf of FG Burnett Ltd by Sure Public Relations. For further information please contact Stephen Rafferty on 07980 598764 or email moreinfo@surepr.co.uk