Global property giant CBRE is moving its Aberdeen team into one of the most prestigious office addresses in the city.
The company is expected to relocate its 15-strong Granite City workforce from premises on Albyn Terrace to a suite in Marischal Square in the spring.
Numbers will be further boosted by 60 people from the firm’s global workplace solutions team who are currently based at multiple Aberdeen locations.
CBRE will project manage a fit-out before the big move, which will see the firm join a raft of other businesses, including restaurants, bars and a hotel as tenants of “MSq”.
Existing occupiers of the award-winning office, hotel, and restaurant complex include Royal Bank of Scotland, Chevron UK, KPMG, EY, Tenaris, Maggie’s Grill, Mackie’s, All Bar One, Costa, Tony Macaroni, Marriott International, the North Sea Transition Authority and North East Scotland Pension Fund.
A new street food market, Resident X, has just opened its doors there.
MSq – comprising 1MSq and 2MSq – is also home to The Press and Journal and Evening Express newspapers, as well as radio station Original 106.
10-year lease
CBRE has signed up for a 10-year lease for one of the suites on level two of 1MSq, which boasts 122,000sq ft of Grade A office accommodation over six floors.
The building is said to have the best BREEAM (Building Research Establishment environmental assessment methodology scheme) and EPC (energy performance certificate) ratings of any office building in Aberdeen.
Its sustainability features and technology were a key factor in CBRE signing up.
‘Real big city buzz’
Derren McRae, head of CBRE’s Aberdeen office, said: “Marischal Square is a prestigious development in the beating heart of the city centre which has a real big city buzz to it.
“The move will allow the team to work in best-in-class office space, with the added benefit of looking across to the stunning Marischal College, Aberdeen’s most recognised and celebrated granite building.”
He added: “1MSq’s fantastic green credentials and wellness facilities underpin our commitment to our environmental and social strategy, and will improve the workplace experience for our people, mirroring our market-leading offices across the UK.
“The building’s strong environmental credentials were a key factor in CBRE selecting it.”
£107 million investment by city council
Aberdeen City Council invested £107 million in MSq, completed in late 2017.
Council finance and resources convener Alex McLellan said: “The development provides high-quality office space, with strong environmental credentials, and is helping to regenerate the east end of the city centre.”
CBRE represented itself in the office deal, while two other leading property firms – Savills and Ryden – acted for the council.
Earlier this year, The Press and Journal reported office buildings in Aberdeen city centre were running out of Grade A space.
MSq, on Broad Street, was close to being more than 80% filled.
Part of the second level of 1MSq was being split into smaller suites and Savills said there was “good interest” in the space.
Two other city centre office buildings – The Capitol and Silver Fin – were both fully let at the time.
Conversation