Commercial Property News

Our magazines are published bi-monthly with in-depth features and news for the commercial property industry. On this page we have the latest news to keep you constantly updated on the market. On the left hand side of the page you can search our archived news which is stored monthly.



Thursday, May 22, 2023

CB Richard Ellis announces three deals at Union Plaza, Aberdeen

On behalf of Stewart Milne Developments, leading property consultant, CB Richard Ellis (Scotland), has announced the completion of a hat-trick of deals at Union Plaza, Aberdeen.

The first deal at Union Plaza comprises the letting of the entire sixth floor plus the south wing of the fifth floor (26,868 sq ft) to commercial law firm, Paull & Williamsons, at a rent of 23.50 per sq ft.

The second deal completed by CB Richard Ellis is with Aberdeen Asset Management Plc, who is taking the north wing of the fifth floor plus the whole of the fourth floor (26,692 sq ft) at 23.50 per sq ft.

To complete the hat-trick, oil technology company, AGR Peak Group, has also taken space within the stunning building. AGR will be taking the 3rd floor (17,896 sq ft) at 23.50 per sq ft.

Union Plaza is a landmark development of Grade A offices situated in central Aberdeen. The development is centred around an attractive landscaped open courtyard and has excellent facilities as well as ample private secure parking.

Mike Robertson, Managing Director of CBRE in Aberdeen commented: "Union Plaza is highly flexible, giving occupiers great options for expansion. This flexibility, combined with the attractive setting and high specification, will set a new benchmark for office development in Aberdeen. We have other space within the building under offer at present and we only have around 35000 sq ft remaining out of 122,000 sq ft yet we are still several weeks away from completion of the building".

Malcolm Deans, Managing Director, Stewart Milne Developments said: "We are delighted with the progress of the development both in terms of the construction programme and the excellent level of lettings achieved to date. The level of interest being expressed in the remaining space is certainly encouraging and we are now actively seeking other similar opportunities in Aberdeen to satisfy the current high levels of occupier demand."

CB Richard Ellis acted for Stewart Milne Developments and FG Burnett acted for Aberdeen Asset Management. AGR Peak Group were represented by Graham & Sibbald.