Demand for office accommodation in Aberdeen has rocketed during the past year, new figures from property firm Knight Frank suggest.
The company’s Granite City office notched up 38 active inquiries last month.
This was up by just seven from a year ago but the total space requirement jumped by more than 213% to 455,000sq ft.
Knight Frank Aberdeen office managing partner Eric Shearer said: “We are all aware of the increase in the supply of office space… but our research shows that demand has made a significant increase year-on-year.”
Most of last month’s inquiries were for less than 10,000sq ft of office space, with a large number of these involving sub-5,000sq ft requirements.
There were six inquiries from potential tenants seeking more than 20,000sq ft, including two involving 50,000sq ft-plus.
Mr Shearer said industrial property demand was also buoyant, adding: “These figures show that the recovery in the energy sector is now start to feed through to the real estate market.”
The latest July total for office space requirement inquiries, by size, is the biggest for the month in years. Mr Shearer said: “It is really encouraging. Oil and gas companies and service firms are starting to look around. People have stopped sitting on their hands.”
Knight Frank’s latest monthly Aberdeen office market figures also show nearly 113,000sq ft of office space was transacted in and around the city in the second quarter of this year, with nearly one-third of the total involving deals in Westhill and Kingswells.
The most sought-after size bracket was less than 5,000sq ft, for which there were nine deals.
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