Knight Frank Aberdeen has confirmed The Care Inspectorate is the latest tenant to occupy the AB1 development in Aberdeen City Centre.
To date, all the tenants at AB1 are public sector organisations, with only one office suite currently remaining available.
The Care Inspectorate has agreed a 10-year lease with landlord Aberdeen Asset Management for a ground floor suite in the refurbished development in Aberdeen’s Huntly Street.
Set up by the Scottish Government, the Care Inspectorate regulates and inspects the country’s care services.
Knight Frank Aberdeen represented the Aberdeen Asset Management/MANSE joint venture as letting agents. The Care Inspectorate was represented by GVA.
Other tenants occupying AB1 include: the Oil and Gas Authority; HM Courts; the Crown Office and Procurator Fiscal Service; and HM Government’s Department for Business, Energy and Industrial Strategy.
AB1 is located in the heart of Aberdeen city centre and has extensive on-site car parking. A striking new entrance from Crimon Place was recently completed to supplement the main glazed feature entrance from Huntly Street.
Michael Clements representing Aberdeen Asset Management, said: “We are clearly delighted the Care Inspectorate has committed to AB1. We believe this illustrates there is continued demand for first-class office accommodation in the city centre in what is a competitive local market.
“Our focus has been on delivering modern amenities in a prime location and this has proven to be the right approach with nearly the entire development already occupied.”
Knight Frank Aberdeen partner Katherine Monro, said: “The Aberdeen commercial property sector continues to adapt to the challenging market conditions.
“The increase in the number of requirements at the start of the year is encouraging, albeit the majority of these are still within the sub-5,000 sq.ft. sector.
“There is a positive sentiment in the market which we expect will be further boosted by various transactions currently in the pipeline coming to fruition.”
Current supply levels are similar to what they were in January 2016. Available built supply sat at around 2.03 million sq.ft. last year compared to 2.32 million sq.ft. in 2017 - an increase of 14%.