Oil and gas businesses fuel competition for Aberdeen office space

Businesses in Aberdeen face fierce competition for office property after demand for property reached a record high in 2011.

Global property consultant Knight Frank found that Aberdeen’s office take-up was one of the highest in the UK with 773,175sq ft, double the figures of 2010.

Knight Frank’s report also shows that in 2011, Aberdeen has the highest rent price for offices out of any UK area except the south-east of England.

Demand for office space in Aberdeen is sought after due to the large presence of oil and gas businesses in "The Oil Capital of Europe."

Their future predictions are that office rent prices will increase further from the benchmark price of £31.50 per sq ft, to £32.00 and beyond.

Ross Henderson