The new owner of Aberdeen Energy & Innovation Parks has got off to a busy start on the office lettings front, with a hat-trick of deals.
They cover nearly 7,000sq ft of space and come after a big cut in headline rents.
The accommodation has been let to two energy service firms and a company specialising in employment law, human resources (HR) and health and safety support.
Existing occupier Kaseum signs up for more space in the Energy Park
One of the deals sees existing occupier Kaseum Technology – focused on the design, development and manufacture of downhole tools – taking an additional 1,554sq ft unit.
Its extra space is in the Energy Development Centre, adding to its current occupancy of four units.
Kaseum’s office footprint in the Energy Park is now more than 20% bigger at 6,254sq ft.
Andy Elrick, operations director for the firm, said: “The Energy Development Centre suits our business perfectly.
“When we needed more space, we were delighted that it could be facilitated quickly and efficiently.”
He added: “Our business is continually developing and being able to do this at the same location and building has brought significant business benefits for us.”
Chemicals firm relocating from Ellon
Italmatch Chemicals, formerly Aubin, is relocating to the Energy Park from Ellon.
It has agreed a five-year lease for Units 5-7, totalling 4,000sq ft, in the Technology Centre.
The firm is a leading developer and supplier of chemical solutions for the energy industry.
Meanwhile, WorkNest – a specialist in employment law, HR and health and safety support services – has agreed a three-year lease on Unit F10 at the Enterprise Centre.
The Energy Park unit extends to 1,235sq ft.
Chester-headquartered WorkNest also has Scottish bases in Glasgow and Edinburgh.
A 14-strong team at its new Aberdeen base will focus on projects across the north-east.
WorkNest hails Energy Park as ‘perfect’ for its new Aberdeen team
Catherine Wilson, head of team at WorkNest, said: “Demand for our services has been growing steadily over the past couple of years across the UK.
“We are delighted to secure our new Aberdeen location, and look forward to continuing to grow and develop the business from the Energy Park.
“The new office provides the perfect location and has everything we need to provide our team with a positive working environment together.”
£100 million income target
Aberdeen Energy & Innovation Parks were recently acquired by AM Sci Tech, a subsidiary of Manchester-based Hurstwood Holdings, for an undisclosed sum.
They were previously owned by commercial property investor Moorfield Group.
AM Sci Tech told The Press and Journal earlier this year it was targeting income of more than £100 million from the two parks in Bridge of Don within the next 10 years.
Announcing its lettings hat-trick, the company said it had implemented a “proactive approach” to occupancy.
And it said it was confident of “another circa 20,000sq ft in new deals and lease renewals”.
‘Fantastic start’ for AM Sci Tech
Headline rents have been slashed by up to 35% to attract new occupier interest.
Aberdeen Energy and Innovation Estates manager Cherry Paton said: “Concluding these deals marks a fantastic start for the new park owner.
“It is pleasing to see two new occupiers, as well as a long-standing occupier expanding.”
Knight Frank and Ryden are joint agents for Aberdeen Energy & Innovation Parks.
Matt Park, an associate in the Granite City office of Knight Frank, said: “Occupiers are demanding the highest quality workspace. The Energy and Innovation Parks offer a great solution that provides an efficient and flexible office within a high-spec environment in a prime location.”
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