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s the challenges facing the North Sea Energy sector continue into 2016, an

exciting new commercial property opportunity has now been formally introduced to the market following the completion of a prestigious landmark office development in Aberdeen. Two floors, totalling in excess of

26,000 sq.ft, have become available in the “Grade A” Horizons House building on Waterloo Quay, overlooking Victoria Dock within the harbour area of the UK’s energy capital. DM Hall, one of the leading Scottish

firms of Chartered Surveyors, has recently launched their full marketing of this highly desirable space on fully flexible terms which reflect the rapidly changing needs of energy sector occupiers. The third floor of Horizons House has

already been taken by sector specialist DOF Subsea UK Ltd. The building itself is stunning, a sleek and dramatic contemporary construction melded sensitively with the Victorian frontage of the original harbour side building, in the solid stone which characterises the city. The fourth floor, which extends to

10,865 sq.ft, is especially attractive, having access to an open balcony area which affords spectacular views over the harbour,


and Scottish Government’s commitment to Northeast Scotland demonstrated by providing a £504m City Deal for Aberdeen. Whilst the oil and gas industry may have lessened the full impact of the economic recession on Aberdeen when compared to the rest of the UK, the recent downturn in energy prices has the potential to negatively impact upon the city on a grand scale. “We would urge city leaders to look


to RICS professionals, who have skills, knowledge and experience in markets and delivery processes, to play an integral role in taking the City Deal programme forward, to maximise the financial assistance to support economic growth, create and maintain jobs and invest in local projects. “The economic impact of the

Aberdeen City Deal funding could be amplified by bringing forward key infrastructure projects - such as enhanced road and rail networks between Aberdeen, the north-east corridor, Inverness and the central belt; and connectivity and capacity improvements to Aberdeen airport.


ICS Scotland Director, Sarah Speirs, commented: “RICS welcomes the UK

with its North Sea fleets, and the Granite City itself. The second floor provides an additional

15,187 sq.ft, albeit with both floors easily sub-divisible into smaller suites if required. Additional space is also available within the development, taking the potential occupiable space to around 43,500 sq.ft. Stuart Johnston, partner in DM Hall’s

Aberdeen commercial department, said: “Located at the centre of the city's commercial and industrial heartland, the development is also only a few minutes walk from the bustle of the city centre, with its huge choice of restaurants and shops, including Union Square Shopping Centre.” While the quality of the space at

Horizons House is the immediate attraction, of additional interest is the flexibility on offer. The property is ready for immediate occupation, has fully flexible open floor plates and is ready for fit-out to a tenants’ own requirements. Unlike many other landlords, DM Hall

can offer short-term leases suited to tenants’ immediate needs - a proposition that should be of potential interest to clients coming up to a lease expiry or perhaps requiring interim accommodation until the North Sea cycle enters a more stable phase.

attractive, double height, glazed entrance which leads to a shared reception that provides lift and stair access to all levels. There are ample car parking facilities

and tenants can have access to the facilities in the adjoining Waterloo Quay Properties Estate, which include a fully equipped gymnasium with two squash courts, a restaurant and meeting and conference facilities. Interested parties should contact DM

Hall's Aberdeen office. BALMORAL BUSINESS PARK ‘B

uilding One’ on Balmoral’s prestigious business park at Loirston Loch has

welcomed its first tenant. North Sea Midstream Partners has chosen the imposing office pavilion to put down roots in Aberdeen and will occupy the west wing of the ground floor which spans approximately 7000 sq.ft. The let represents the second largest lease in Aberdeen city of 2015.

time when there is so much office space available for lease in and around Aberdeen. Their decision highlights the quality of accommodation in ‘Building One’ as well as the exceptional location of the development. “Suites ranging in size from 6,500-

30,000 sq.ft can be accommodated with dedicated entry points and services. It is a highly adaptable space and very much ready to move into.” With the recent opening of Mini, Nissan,

Audi and Porsche dealerships on the doorstep, and the ongoing development of residential and retail sites, including a Sainsbury’s Local store and IKEA outlet, the area is undergoing a major transformation. A new academy is also slated for the area. Approximately 33,000 sq.ft of high

Chris Grinyer, managing partner of

letting agent Shepherd, commented: “We are delighted to have secured the first occupier for the building and wish NSMP every success. I expect this letting to be the catalyst for further occupation of the building as potential tenants see the quality of accommodation on offer.” Balmoral non-executive director, Gary

Gerrard, added: "North Sea Midstream Partners has chosen to locate its headquarters at Balmoral Business Park at a

specification office space remains available at the park which sits on the south side of the city. Single or multi-let options are available. Spanning three floors and two wings

the building offers energy-efficient heating, air conditioning and lighting, a full movement-sensitive and daylight linked control system and 2.7m floor to ceiling accommodation with a double height reception area. For more details visit www.balmoralbusiness

COMMERCIAL PROPERTY MONTHLY 2016 The building has polished granite

facings to the balance of the front elevation. The main access is through an

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