Another milestone event in the transformation of Aberdeen city centre was toasted last night as key figures in a £65million office development celebrated its completion.
The new Silver Fin building, together with the Capitol office complex, are expected to bring more than 1,700 office workers into the west end of Union Street.
London-based serviced office specialist Orega has already signed up for nearly 27,000ft of the Silver Fin, representing 20% of its total accommodation.
The new building, which is on the site of the old Bells Hotel, is a joint venture between property investor Titan Investors and British Airways Pension Fund.
It adds nine floors of Grade A office space, plus four levels of underground car parking, to Aberdeen’s commercial property market.
Once fully let, there could be more than 1,000 people working there. The Capitol, next door, will have around 700.
Sean Mackenzie, co-founder and director of Titan Investors said: “After a five-year process, involving site assembly, planning and construction, we are proud to have completed this development and considerable investment into the city of Aberdeen.
“We do believe the building sets a new benchmark for quality office space located in the heart of the city centre.”
Joint letting agents for the Silver Fin, so named because of its architectural features, are CBRE and FG Burnett.
Derren McRae, head of CBRE’s Aberdeen office, said: “From an Aberdeen perspective, it has been great to see the west end of Union Street transform – firstly with the development of the adjoining Capitol office building, then completion of the Silver Fin building.
“We continue to witness occupiers move from more traditional inefficient buildings to more flexible open-plan space, and bringing new office occupiers to Union Street will greatly assist with the regeneration of the city centre.”
FG Burnett director Jonathan Nesbitt added: “The developers set out to produce a London-quality building in Aberdeen, and credit must go to the full design and construction team for delivering on point.
“Despite challenging market conditions, there continues to be a drive towards quality from occupiers. The Silver Fin is set to continue to benefit from this strategy.”
The Capitol, which opened just last year, is already more than 85% let. Elsewhere in the city centre, Muse and Aviva’s £107million, 170,000sq ft Marischal Square development in Broad Street is
due for completion next month.
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