(Image: Alexander Walker/ Getty Images)
All eyes in the political world were on Aberdeen today as the SNP conference got under way in the Granite City.
With the city still reeling from BP’s controversial decision to quit the North Sea earlier this year, it is no surprise that the future of the oil and gas industry is set to be a major topic of discussion at the gathering.
But there was some encouraging news for Aberdeen this morning. According to Knight Frank, the city is on track to record its highest level of office take-up since 2019.
Analysis by the property consultancy found that 326,801 square feet of office space were taken up in the first nine months of 2026, 44% more than the same period last year. The tally exceeded last year’s total of 280,000 sq ft.
Market activity was boosted by CB&I Asset Solutions committing to more than 100,000 sq ft at Caledonia House in the Prime Four Business Park, Kingswells – the largest office transaction in Aberdeen since Total’s relocation to Westhill in 2017.
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Knight Frank said that 37,106 sq ft of space were taken up across 11 deals during the third quarter, following what it said was Aberdeen’s best first half for seven years. Deals completed in the last three months included the sale of 4 Carden Terrace, which was acquired for alternative use.
Knight Frank said that while activity has been more muted in quarter three, the fundamentals in the city “remain encouraging”.
“Activity in Aberdeen’s office market was more subdued in the third quarter – but that was to be expected after a surge in deal activity during the first half of the year, led by CB&I Asset Solutions taking 100,000 sq ft at Prime Four Business Park,” said Matt Park, partner at Knight Frank Aberdeen.
“Even so, the city’s fundamentals remain encouraging. Tenants are still prioritising high quality, ready to occupy space that offers simplicity and cost certainty. Availability of new Grade A space remains under pressure, which we expect to lead to a new headline rent being set in Aberdeen during the remainder of this year.
“High-quality, fully fitted and well-presented space remains attractive across the city’s office market. Given the level of active requirements, we hope to see momentum build again in Aberdeen towards the end of the year and for that to continue into 2027.”