He will be succeeded by current head of agency, Graeme Nisbet.

Richard, who has held the role since 2016, said: “It has been a privilege to lead this business for nine years, I have thoroughly enjoyed the role, made easier by the terrific team we have at FGB. This is a sensible time for me to step aside following our recent successful rebrand and as we come to the end of a solid year in terms of financial performance.

“Graeme will bring his natural enthusiasm, energy and considerable experience to the role and I am looking forward to lending support to him as he settles in.”

Graeme Nisbet, who has been with the business since 2016 having previously held senior roles in the property consultancy and finance sectors, added: “It’s an honour to take the reins at FGB and follow in the footsteps of a number of respected leaders. FGB has been a pillar within the North East and wider Scottish commercial property market for the last 65 years.

“Richard has been instrumental in delivering a number of initiatives and successfully steering the business in a positive direction despite encountering headwinds including challenging market conditions. The business is in excellent shape and offers a platform for growth and diversification. I am looking forward to my tenure as managing director with the support of our board, and to continue advising clients in the commercial development, office and industrial sectors.”

Richard Noble will continue to focus on providing letting, sales, investment and development advice to clients in the retail and leisure property sector working alongside Lisa Cowie. Jon Nesbitt will take on the role of head of agency.