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Aberdeen commercial property market boosted by energy and innovation parks

Aberdeen Energy and Innovation Parks (AEIP) has seen the completion of three office deals – further indication of commercial property acceleration in Granite City following oil price decline.

All completions will see tenants moving into the James Gregory Centre (JGC) of the Bridge of Don Innovation Park.

New tenants and expansions

One of the completions includes current tenant, 4MS Network Services, who are expanding from four units. This brings their currently occupancy up to just over 1,000 sq ft. Launched in 2007, 4MS is an internet communications and network service for the worldwide oil and gas industry from Aberdeen.

HSI Lateral Wave, who are headquartered in Los Angeles, are specialists in testing services for the oil, gas, plus food industries and more, who have also booked a unit in the James Gregory Centre. They already have existing centres across the UK and were looking for a base in the North East.

Finally, another US owned oilfield services provider, Blue Spark Energy UK were also involved in one of the completions for new occupancy in the James Gregory Centre.

Aberdeen Energy and Innovation Parks

Commercial property asset manager, Mark Holmes of Moorfield Group, on behalf of Aberdeen Energy and Innovation Parks’ Moorfield Real Estate Fund III, explained that these completions are an important endorsement for flexible and cost-effective offers for occupiers.

Office suites in the James Gregory Centre, have recently seen extensive refurbishment.

Knight Frank and Ryden are the joint agents for Aberdeen Energy and Innovation Parks.

The parks make up 200,000 sq ft of multi-let office and industrial space for over 80 businesses plus a workforce of almost 2,000 employees.

Moorfield Group are in a joint venture with Buccleuch Property in developing approximately 60 acres of expansion land across the parks, including 500,000 sq ft at the energy park and 13 acres of currently serviced plots short-term.

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