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Aberdeen Offices

UK Commercial – Spring 2021

Report

Autoren: Simon Preece , Pearl Gillum

Reihe: Savills Market in Minutes

Anbieter: Savills

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  • Erscheinungsdatum : 10.06.2021
  • Seiten : 2 Seiten
  • Datei-Typ : PDF-Datei
  • Größe : 87,69 kB
  • Sprache(n) : Englisch

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Inhalt

During Q1 2021 take-up in Aberdeen reached 32,757, significantly below the average quarterly level being 95,000 sq ft over the last five years. This was unsurprising due to a strong Q4 2020 and the significant disruption which continues to be caused by the ongoing Covid-19 pandemic.

Government advice remains for employers to 'continue to support employees to work from home wherever possible' across Scotland and as a result many offices in Aberdeen remain closed or are operating with reduced staff levels.

Although take-up was limited, availability has shown a slight decrease since the end of 2020. Available office stock in Aberdeen currently totals 2.6 million sq ft reflecting a 2% decrease since the end of 2020. Grade A supply currently totals just 443,000 sq ft- a 14% decrease since the end of 2020 and a 30% decrease from the five-year average level.

Headline prime rents remain at £32.50 per sq ft, however, Savills anticipates prime rents may move up to £33 per sq ft in 2022 and reach £34 per sq ft during 2025. Rent free periods are currently 12-18 months per five years.

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