Developer announces Aberdeen office development - commercial mortgages

01 June 2007

Seletar Shipping has outlined plans for a new office development project in Aberdeen, having contracted Knight Frank to design and project manage the development of a prominent office building.

The new building, dubbed New Horizons House, is expected to be available for tenants by the end of 2008. The development is intended to attract commercial tenants looking for premises in Aberdeen, including those with commercial mortgages.

In total the development will span 46,500 square feet, offering Grade A office space across a number of floors. Reports state that the ground floor and fourth floor are currently ''under offer'', indicative of strong demand.

"This is an exciting development that will add to the ongoing regeneration of Aberdeen Harbour as well as create much needed quality office space in the City," Katherine Monro of Knight Frank told Property Executive.

"Strong interest has already been expressed by companies involved in the Marine Industry and also by the professional sector."

Recent reports from Drivers Jonas highlighted a low supply of premium office space in Edinburgh, sparking fears of an increase in rents, according to the Scotsman.