The Press and Journal (Inverness, Highlands, and Islands)
Offices: All space at grade-A city centre development now hosting tenants
The AB1 office redevelopment in Aberdeen is fully occupied in another sign that Aberdeen’s commercial property sector is enjoying better times
Letting agents Knight Frank and Ryden announced the achievement, adding that AB1 was the first city centre office project completed since the oil crash to hit the milestone.
Redeveloped by Aberdeen Standard Investments (ASI) and Manse on Huntly Street, the building comprises 50,000sq ft of grade A refurbished office space.
Consultancy firm Millstream Associates took the final 6,005sq ft, joining tenants including the Oil and Gas Authority, the Care Inspectorate, HM Courts, the Crown Office and Procurator Fiscal Service and HM Government’s Department for Business, Energy and Industrial Strategy.
ASI portfolio manager Michael Clements said: “We are delighted with the success of the AB1 scheme, which has now achieved full occupancy despite an extremely challenging office market.”
Knight Frank associate Matthew Park said: “AB1’s success highlights the strong demand for city centre grade A office accommodation, and showcases how investment in refurbishment and modernisation can breathe new
“There is a good mix of public and private sector tenants”
life into existing city centre office spaces.”
Ryden associate Andrew Smith added: “There is a good mix of public and private sector tenants in the building, which shows the wide appeal.
“With recent increases in the oil price and positive news coming from the oil and gas sector, we hope that the green shoots of recovery are now well and truly established.”