THE north-east headquarters of energy giant Equinor have been sold for £20 million in a deal heralded for marking a “shift in investor appetite for Aberdeen”.
Equinor House, a 46,000 square foot building fully leased to the Norwegian state-owned company until March 2032, has been sold by Golden Globe Ltd to an unnamed private investor from overseas.
The property was developed by Drum Property Group for Equinor in 2015, before being acquired by Golden Globe in 2018. BNP Paribas advised Golden Globe on that deal and on the subsequent sale announced today. Savills and GG Capital advised on the purchase.
Gary Cameron, head of Scotland at BNP Paribas Real Estate, said: “Aberdeen has witnessed a scarcity of prime office deals in the last few years in what most will accept, has been a subdued market. However recent world events and the energy cost crisis have brought a stark focus on UK energy security and a renewed commitment to the North Sea.
‘"We believe the Equinor House sale marks a shift in investor appetite for Aberdeen and a turning point for the city. Demand for the city won’t be a blanket one but for select assets offering the combination of location and secure and sustainable income, Aberdeen can offer investors really good value.”
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