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Aberdeen recorded its strongest quarter for office take-up since the Covid-19 pandemic with expectations that rents could hit a new record later this year.<\/p>\n
According to new figures from Knight Frank office deals totalled 221,213 sq ft during the second quarter of 2026 \u2013 more than three times the 68,482 sq ft recorded in the first three months of the year and more than double the same time last year (102,412 sq ft)<\/p>\n
It was also 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.<\/p>\n
The largest transaction saw CB&I Asset Solutions take more than 100,000 sq. ft. at Caledonia House at Prime Four Business Park in Kingswells \u2013 the largest office transaction since Total\u2019s relocation to Westhill in 2017. Knight Frank represented CB&I Asset Solutions on the transaction.<\/p>\n
There were 14 deals between April and June, eight of which involved energy businesses and the remainder made up of technology, professional services, and charity occupiers. The energy sector accounted for 83% of the quarter\u2019s take-up, with three large companies in the industry relocating their headquarters.<\/p>\n
Matt Park, partner at Knight Frank Aberdeen, said the last quarter\u2019s office take-up in Aberdeen is a highly encouraging sign after a prolonged period of subdued activity.<\/p>\n
\u201cMore widely, some of the decisions businesses had been holding back are now starting to move again, whether that\u2019s upgrading space or consolidating into more suitable accommodation \u2013 reflected by the fact we have seen three\u00a0 energy companies recently relocate their headquarters.<\/p>\n
\u201cOccupiers 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. <\/p>\n
\u201cAs a result, high-quality, fully fitted, and well-presented space remains particularly attractive across the Aberdeen office market.<\/p>\n
\u201cWith 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.\u201d<\/p>\n
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