It is 15 years since property giant CBRE launched in Aberdeen by taking over Paul Gee and Co. Derren McRae, now head of CBRE in the Granite City, highlights changes in the commercial market since 2008.
A new road, technology and office dress codes have been transformational, he says.
With CBRE this month celebrating 15 years since setting up office in Aberdeen it feels like a good time to reflect on changes in the commercial property industry in the city over that period.
Firstly, Aberdeen has changed significantly since 2008. No longer do occupiers complain about tailbacks at Dyce – they can now get around the city in no time, thanks to the AWPR.
Where once occupiers had to make do with substandard office pavilions in industrial estates, they now operate from best-in-class office buildings, with plentiful amenities at the likes of the Prime Four business park.
In 2008 the energy performance certificate was introduced into Scotland, and now, 15 years later, this rating is one of the key deciding factors in whether a property makes a company’s shortlist for viewings or not.
Aberdeen’s energy transition
It has also been fascinating to witness the change in emphasis among energy companies.
Where once they were solely focused on oil and gas extraction in the North Sea, they are now inspecting office headquarters for teams in Aberdeen dedicated to driving energy transition globally.
Until 2015, a considerable amount of time was spent working with architects on designs for new developments.
Due to the market changing, the focus in the past eight years has been on letting these buildings.
But we are now at the stage where this high quality Grade A space is almost fully let.
From banning Facebook to embracing social media at work
The workplace has changed immensely. We have gone from Facebook being banned on our PCs to social media on mobile phones becoming one of the key tools for business promotion and information.
And the pandemic has accelerated a change in work dress code.
You may now get quizzed on why you are wearing a suit and tie, but get asked no questions if you turn up in jeans and trainers.
Client meetings in offices have also reduced in regularity. There is now more chance you will meet a client in a coffee shop or virtually on Teams.
We have recently been putting all our hard copy marketing details out to recycling in preparation for our office move, again a change accelerated through the pandemic.
The transformation of CBRE in Aberdeen has been exciting to be part of.
At one point the team was based in what felt like a shoebox, with three colleagues in a west end back lane.
We now have a multi-disciplined service line offering of 15 staff plus 70 facilities management employees based in client sites across the north-east.
Back in 2008 the city centre was not the most sought after office location.
But now Marischal Square alone is home to the likes of EY, KPMG, Royal Bank of Scotland, Chevron, Burness Paull and shortly CBRE.
The one constant over the period CBRE has operated in the city has been the challenges around letting space on Union Street.
It has been encouraging to see positive changes such as the Music Hall redevelopment, NuArt brightening up grey buildings, and The Capitol and Silver Fin buildings attracting the likes of Shell to the city centre.
The Spectra light festival at city centre landmarks including the new and improved Union Terrace Gardens earlier this month was nothing short of phenomenal.
Here’s hoping that in the next 15 years we collectively turn the narrative around so Union Street becomes something we can all talk up and be proud of.
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