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Expansion for new company

Standard Life Aberdeen in new property deal

 

10 George St10 George St: Standard Life Aberdeen deal


Standard Life Aberdeen is believed to be taking a suite of offices close to the new headquarters of its investment division.

It will complete one of Edinburgh’s largest office lettings this year by signing up for more than 69,000 sq ft at 10 George Street.

Landlord Sampension, a Danish pension fund, is undertaking a refurbishment of the offices early next year once current tenant EY has left for Deka Immobilien’s Atria One building on Morrison Street.

Standard Life Aberdeen, formed this year from the merger of Standard Life and Aberdeen Asset Management, has a number offices in Edinburgh at 40 Princes Street, 1 George Street and Standard Life House. It also has offices in Morrison Street, formerly occupied by Scottish Widows Investment Partnership.

It is believed to be taking 10 George Street in an off-market deal, paying a rent believed to be
about £30/sq ft, according to Property Week.

The building is opposite the historic headquarters of Standard Life Investments and close to St Andrew Square where the newly-named Aberdeen Standard Investments will be based.

The Standard Life Aberdeen letting deal will be one of the biggest of the year in the city, following the Government Property Unit’s pre-let of 190,000 sq ft of new build offices by Artisan Real Estate Investors’ at the New Waverley development close to the Royal Mile.

Cushman & Wakefield advised the landlord, while Ryden advised Standard Life Aberdeen.

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