OFFICE take up in Aberdeen in the first half of 2017 surged past the total take-up in 2016, in another sign of recovery.
Property agency Savills has reported that 270,000sq ft of office space changed hands in the first six months of the year, 17 per cent ahead of the 231,000sq ft total from 2016.
And the second half the year will likely be boosted when the significant 48,000sq ft letting at The Capitol to Chrysaor Energy is concluded.
Chrysaor acquired £2.46bn of North Sea assets from Shell in January, giving the city a major confidence boost following more than two years of gloom following the decline in the oil price.
The deal has been reported, but remains conditional upon Oil and Gas Authority (OGA) approval. The firm expects the deal to conclude imminently.
Deals concluded in the first half include Marathon Oil taking 31,668sq ft from Kennedy Wilson at the Hill of Rubislaw; Total taking 108,000sq ft from Subsea 7 at Arnhall Business Park and legal firm Stronachs leasing 13,683 sq ft at Albyn Place.
Dan Smith, director at Savills Aberdeen, said: “The improvement in market sentiment and deal activity in Aberdeen... is largely a result of lease events, improving energy sector demand and increased [lease] flexibility.”
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