More than 2m st ft available in city

Two tenants for refurbished Aberdeen offices

Aberdeen AB1Two key tenants have been secured by Knight Frank for the AB1 office complex in the heart of Aberdeen city centre.

Aberdeen Asset Management’s development was officially re-opened earlier this year after a multi-million pound refurbishment project, undertaken in a joint venture with Manse, was completed on the Huntly Street site formerly known as Langlands House.

The Oil & Gas Authority (OGA) became the first tenant in 2015 and it will be joined by two further Government agencies.

The Crown Office and Procurator Fiscal Service (COPFS) has taken 10,500 sq ft of first floor space. The Department of Communities and Local Government, represented by Peter Fraser of Bilfinger GVA, will occupy 7,800 sq ft on the second and third floors to house staff from the Department of Energy and Climate Change. Both organisations have signed a 10-year lease.

Knight Frank and joint letting agent Ryden are reporting strong interest in the remaining 17,000 sq ft of office accommodation, despite a backdrop of challenging conditions in Aberdeen’s commercial property market due to the downturn in the oil and gas industry.

Michael Clements, of landlord Aberdeen Asset Management, said: “Although demand from the energy sector has clearly diminished, our experience with AB1 has demonstrated that there is potential in the office market. Together with the Oil and Gas Authority, the new occupants create a strong long-term tenant base and that will support the ongoing marketing of the remaining space.”

David Mitchell, managing partner at Manse,  said the  two deals, represent a significant step towards the goal of ensuring AB1 is fully let.

Matt Park, a senior surveyor in Knight Frank’s Aberdeen office, said more than two-million sq ft of office accommodation is currently available in Aberdeen.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.