In what is thought to be the biggest ever Scottish office deal, a Scandinavian oil services company has leased all three first phase buildings at Aberdeen International Business Park (AIBP).
Under the contract, Oslo-based subsea engineering services giant Aker Solutions will take 335,000sq ft across the trio of interlinked buildings at an annual rent of £7.74m. Its initial 20-year lease has extension options of three, five-year periods.
Work on the development is already underway with construction scheduled for completion by February and occupation by early next summer. In addition to office space for up to 2,400 people the buildings will also include a fitness centre with squash courts, catering facilities, a nursery, medical facilities and an auditorium.
The 40-acre site, adjacent to Aberdeen International Airport, was acquired by investment firm The Abstract Group from Miller Developments in March last year. Aker ASA, the Norwegian industrial investment company — which has a 34.5 per cent stake in Aker Solutions — then stepped in with the finance to pushed the project forward.
Miller Developments will now continue with its original Dyce business park plan — renamed D2 — for the rest of the 53 acres it owns. Before selling on the parcel of land to Abstract the company intended to build around one-million square feet of office space with at least one hotel on the site which, Miller claimed, would have an end value of £400m.
Abstract identified and introduced the site to Aker, handled all aspects of the acquisition and is now managing the development of the entire AIBP scheme through a special purpose vehicle, Abstract (Cornwall) Ltd.
“The position of the Aberdeen International Business Park adjacent to Aberdeen International Airport and the quality of the development and the developing local road infrastructure makes this business park an obvious and logical location for major international companies active in the Aberdeen market,” explained Abstract spokesman, Mark Glatman.
Aker Solutions is already one of the largest employers in Aberdeen with more than 1,200 employees spread across six city sites.
David Currie is regional head of Aker Solutions in the UK. “This move is a long-term investment for us and underlines our commitment to Aberdeen and our customers in the area,” he said. “These new offices will provide high-quality facilities and enable us to bring the majority of our Scottish employees together in one central location.”
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