Office take-up in Aberdeen in the first half of this year has exceeded the entire 2016 figure, according to Savills.
The international property advisor reports that office take-up in Aberdeen has already reached about 270,000 sq ft, marking an increase of around 17% on total take-up for the whole of 2016, which was circa. 231,000 sq ft.
With the expected completion of Titan / BA Pension Funds Silver Fin Building (135,000 sq ft) and Muse / Aviva’s Marischal Square (175,000 sq ft) – both of which are due for practical completion later this month, Savills expects the strong level of leasing activity to continue as occupiers look to relocate to better quality office accommodation in the city.
Dan Smith, director at Savills Aberdeen, commented: “The improvement in market sentiment and deal activity we reported at the end of the first quarter in Aberdeen continues as the city sees increased churn from both new and existing occupiers. This is largely a result of lease events, improving energy sector demand and increased flexibility relative to lease terms.”