Energy services firm Kaseum Technology has grown its footprint at Moorfield Group’s Aberdeen Energy & Innovation Parks in Bridge of Don.
The landlord and tenant have agreed lease renewal terms and an expansion, with Kaseum signing up for another five years in Units 1 and 2 of the Energy Development Centre, in the energy park, and adding Unit 4.
It means Kaseum, which specialises in the design, development and manufacture of downhole tools, has increased its footprint at the energy park by 30%, to 6,700sq ft.
The company currently has 19 employees but has just hired six more and is looking to take on another five next year. The mix is roughly 50% research and development (R&D) and 50% production.
Kaseum managing director Paul Church said: “We have managed to come through the Covid pandemic in a healthy position, and experienced increased demand for our products and services.
“This expansion will allow us to organise our electronics manufacturing more efficiently and will also free up space for our ambitious R&D programme, supported by Scottish Enterprise and the Scottish Investment Bank.”
‘Ideal for our business’
“Being able to expand our operation at the energy park is ideal for our business requirements and offers continuity for our staff and clients.
“We’ve been based here for four years and are very satisfied with the high quality and well-located space.”
Hugh Canham, head of asset management, Moorfield Group, said: “Concluding this deal with Kaseum is very positive news for the parks, which have seen a flurry of occupiers committing to lease re-gears and expansions in recent months.
“We have continued to invest in the parks through the pandemic. We recently launched our flexible workspace offering, which caters to a wide range of occupiers with the provision of standalone offices, serviced offices, coworking and workshops within a secure and spacious environment.”
Matt Park, associate director, Knight Frank, said: “With the return to the workplace now in sight, the Energy and Innovation Parks offer the perfect location for occupiers seeking extra space in line with social distancing.
“The parks are located conveniently close to the city centre, with ample car parking space and beautiful outdoor space. We anticipate increased demand over the coming months.”
Acquired by Moorfield Group, on behalf of Moorfield Real Estate III Fund in September 2014, the two business parks comprise 200,000sq ft of multi-let office and industrial space for more than 80 companies and a workforce of nearly 2,000 employees.