Prosafe’s Former Aberdeen Office Hits the Market

August 13, 2020

Following the recent office relocation announcement by Prosafe to The Silver Fin Building, property consultancy experts, FG Burnett has been retained to dispose of Prosafe’s former office site in Aberdeen.  There have been several other new listings and sales of office buildings in the area over the last few months as owner-occupier companies decide to relocate or take advantage of current commercial property market conditions as an opportunity to change their property asset model from ownership to rental.  A liquid asset base is key in a difficult oil and gas market which the North-East is currently witnessing and many office occupiers have inherited property assets by virtue of merger and acquisition activity over the years.  This has led to substantial property assets sitting on company balance sheets where, in fact, the cash equivalent could be better deployed in other areas of their business.

Graeme Nisbet, Head of Agency at FG Burnett comments “This was an excellent opportunity for Prosafe, not only to secure new Grade A offices on attractive terms and with the benefit of an existing tenant’s fit-out in the heart of Aberdeen, but will also provide their staff and clients with a more engaging working environment.  The Silver Fin Building is an exemplary Grade A office building which is unrivalled within the oil and gas capital.

The former Prosafe site offers office accommodation extending to around 17,000 sq.ft over three floors which would likely be attractive to a number of occupiers looking for a mid-range specification at a discounted price.  The site itself extends to 1.15 acres (0.47Ha) with car-parking for 66.

These types of office listings may offer redevelopment potential of brownfield sites for alternative uses therefore removing office supply from the market.

Graeme further adds “Ideally we are seeking a purchaser for office use.  However, we are all aware of the challenges the office market currently faces and we are already in discussions with developers as the site also offers an exciting development opportunity.  Along with three separate access points – two on to Greenbank Road and one on to Hillview Road – Greenwell Road has been identified as a potential route linking the new South Harbour to the City Centre.”

More information on the sale can be found by visiting FG Burnett’s website or alternatively contact Graeme Nisbet – E: graeme.nisbet@fgburnett.co.uk

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