Decipher Energy Ltd, which recently acquired Iona Energy Company (UK), has leased the ground floor extending 3,155 sq ft (297 sq m) of 70 Queens Road in Aberdeen’s prime West End on a new five year lease.
The terms were agreed by Savills on behalf of JPR Services Ltd.
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The deal now sees the building fully tenanted, following recent lettings of the first floor to consultancy firm, Plan b, and the second to DNB, Norway’s largest financial services group.
Dan Smith, director at Savills Aberdeen, comments: “Following a comprehensive refurbishment and extension to the existing building, 70 Queens Road provides the grandeur of a traditional granite office building together with the benefit of a modern open plan extension, in a prime West End office location”.
According to Savills Aberdeen Offices Spotlight, the Granite City’s office leasing market gathered pace in the first quarter of 2017 with take-up reaching 181,000 sq ft (16,815 sq m), the strongest quarter recorded since Q3 2013 and not far short of total take-up volumes for the whole of 2016 (183,000 sq ft / 17,000 sq m).
Savills is jointly instructed at 70 Queens Road with Ryden.