Property Improvement Fund
Bringing vacant industrial property back into productive use
The Property Improvement Fund supports the upgrade and refurbishment of vacant and underutilised industrial properties across Aberdeen City and Aberdeenshire, helping create high-quality space for businesses operating in the energy transition economy.
Delivered by ETZ Ltd and funded by Scottish Enterprise, the fund aims to tackle a key challenge facing the North-East property market: an oversupply of older industrial buildings that no longer meet the needs of modern businesses. By supporting refurbishment projects where commercial viability gaps exist, the fund will help bring vacant buildings back into productive use, unlock private investment and create space for business growth.
The Fund aligns with ETZ Ltd’s ‘brownfield first’ approach and investment programme to deliver market-ready properties for high-value manufacturing and the wider supply chain, ensuring high quality properties are available to attract companies operating in low carbon markets.
The Property Improvement Fund will make awards of up to £500,000 per application. The fund will remain open for applications through 2026 and 2027, with applications being appraised and funding awards made on a quarterly basis. Applications can be submitted at any time. Eligible projects will be supported while funding remains available, and applicants are encouraged to apply as early as possible.
To apply, complete an application form and send to propertyfund@etzltd.com
Frequently Asked Questions
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Find out about the previous rounds of the Property Improvement Fund
Property Improvement Fund 2025-26
The Property Improvement Fund 2025-26 provided grants to property owners and occupiers throughout the North East of Scotland.
Projects funded included refurbishment works to improve the quality of vacant property, ensuring suitability for occupation by companies operating in low carbon energy sectors and the wider supply chain.
Property Improvement (Energy Efficiency) Fund 2024-25
The Property Improvement (Energy Efficiency) Fund provided grants to property owners and occupiers within Altens and East Tullos Industrial Estates to reduce the energy demand and improve the energy efficiency of properties within the Energy Transition Zone.
This initiative was supported through Scottish Government funding and acted as a catalyst to decarbonise the built environment, unlocking private sector investment into existing facilities.
The Property Improvement (Energy Efficiency) Fund made awards to 4 successful applicants, with awards ranging up to £25,000 per applicant.
Completed project activities included:
- Additional energy infrastructure, such as solar PV installation or wind turbines.
- Energy efficiency measures, which reduce the amount of energy that a building uses, such as replacement of electrical fittings with more efficient alternatives, or installation of additional or improved insulation.
Low carbon heating measures, such as electric panel heaters, air source heating, or biomass boilers.
Property Improvement Fund 2023-24
The Property Improvement Fund 2023-24 provided grants totalling £1.5m to property owners and occupiers within Altens and East Tullos Industrial Estates.
The Fund aligned with ETZ Ltd’s ‘brownfield first’ investment programme to deliver market-ready properties for high-value manufacturing and the wider supply chain. It has helped to begin the revitalisation of the existing brownfield industrial estates, ensuring high-quality properties are available to attract companies operating in low carbon markets.
This initiative was supported through Scottish Government funding to support new investment and jobs as we accelerate the North East of Scotland’s energy transition ambition.
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