Spotlight

Aberdeen Offices

Aberdeen Offices
Aberdeen Offices

18 April 2017, by Mike Barnes

The first quarter performance indicates that last year’s take-up will be reached by mid-2017

■ The Aberdeen market has gathered pace following a quieter 2016, with take-up during the first quarter of 2017 reaching 181,000 sq ft.

■ The energy and engineering sector is forecast to see a more active 2017, with total take-up expected to reach 350,000 sq ft.

■ There remains an excess supply of secondary space across the market, which has increased total availability to 2.1m sq ft.

 

■ We expect rents to remain at £32 per sq ft for the best quality space, although with attractive rent free periods, net effective rents have reduced.

■ Investment during the first quarter of 2017 reached £49 million, exceeding the level recorded during 2016. Current levels of investor confidence point to a much improved 2017.

 

 
Aberdeen Offices

▲ The Capitol provides 74,000 sq ft of new-build Grade A office space, which offers a large reception on the first floor.

Articles from Spotlight: Aberdeen Offices – Spring 2017

Aberdeen offices

18 April 2017

Aberdeen offices

Following two subdued years of office demand off the back of low oil prices, Aberdeen's office market appears to be showing signs of a recovery

 
 

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Key contacts

Mike Barnes

Mike Barnes

Research Analyst
Commercial Research

Savills Margaret Street

+44(0) 203 107 5459