Aberdeen closing in on record office rent as take-up hits post-pandemic high
“We expect to see the positive momentum from the second quarter continue into the remainder of the year” – Matt Park, Knight Frank
Aberdeen could see a new headline rent being set later this year after the city witnessed the best quarter for office take-up since before the pandemic, property experts have said.
Activity was boosted by one particular bumper deal - the relocation of CB&I Asset Solutions to Kingswells - alongside a flurry of other deals completing between April and June, according to new figures from property consultancy Knight Frank.
The firm’s analysis found there were 221,213-square-feet of office deals in the Granite City during the second quarter of 2026 - more than three times the 68,482 sq ft recorded in the first three months of the year and more than double the same period last year (102,412 sq ft).
Knight Frank, which was involved in more than two-thirds of the space transacted, said the latest Q2 figure marked the highest quarterly take-up since the final three months of 2019, before pandemic-related lockdowns and the subsequent shift to working from home reshaped office demand.
The largest transaction of the past quarter saw CB&I Asset Solutions take more than 100,000 sq ft at Caledonia House at Prime Four Business Park in Kingswells - the largest office transaction since Total’s relocation to Westhill in 2017. Knight Frank represented CB&I Asset Solutions on the transaction.
In total, there were 14 deals between April and June, according to the analysis, eight of which involved energy businesses and the remainder made up of technology, professional services, and charity occupiers. The energy sector accounted for 83 per cent of the quarter’s take-up, with three large companies in the industry relocating their headquarters.
Matt Park, a partner at Knight Frank in Aberdeen, said: “The last quarter’s office take-up in Aberdeen is a highly encouraging sign after a prolonged period of subdued activity - boosted by CB&I Asset Solutions taking more than 100,000 sq ft at Prime Four Business Park. We were delighted to represent the company on this transaction, which was one of the biggest of the past decade.
“More widely, some of the decisions businesses had been holding back are now starting to move again, whether that’s upgrading space or consolidating into more suitable accommodation - reflected by the fact we have seen three energy companies recently relocate their headquarters.”
He added: Occupiers continue to favour office space that is ready for immediate occupation. Demand is being driven by a preference for simplicity, cost certainty, and faster move-in times, with many businesses choosing to avoid the expense, disruption, and lead time associated with managing their own fit-out projects.
“As a result, high-quality, fully fitted, and well-presented space remains particularly attractive across the Aberdeen office market.”
Casting an eye towards the remainder of 2026, Park said: “With a number of requirements on the market, we expect to see the positive momentum from the second quarter continue into the remainder of the year. That could also mean we see a new headline rent set in Aberdeen during the second half of 2026, as occupiers compete for the best available space.”
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