Commercial property developer Knight Property Group and M&G Real Estate, one of the UK‘s largest property investors, have announced a second tenant is to take occupancy at The Capitol in Aberdeen.
Commercial law firm Maclay Murray& Spens LLP (MMS) has signed a 15-year lease on part of The Capitol’s fourth floor, occupying 5,049 sq ft of the historic city centre property. The move sees MMS relocate from its current Aberdeen base in Queens Road.
The Capitol theatre was left derelict for over five years until Knight Property Group and M&G Real Estate redeveloped and launched the £30 million transformation in April 2016. The team have restored The Capitol back to its former glory, turning it into modern office space which now hosts two blue chip companies including MMS joining PwC in the second quarter of this year.
Knight Property Group Director, Howard Crawshaw comments on behalf of the joint owners, “This shows and demonstrates the appetite for occupiers to commit to the property which offers open plan floorplates, thus allowing the tenants to be fully flexible when looking at how to occupy and operate from the space.
“The Capitol sets out a new standard for Aberdeen business accommodation. Utilising the unrivalled splendour of a 1930’s cinema as its starting point, The Capitol then extends into sensational modern office space with breath-taking views across the city”.
David Rose, an Aberdeen-based director in MMS’ Property Department, “The redevelopment of The Capitol is great news for Aberdeen and Union Street, in particular. We are excited to be relocating to this landmark property, which will enable us to continue building our business in the North East, from a Grade A open plan base of exceptional quality, which offers an excellent environment for partners, staff and clients.”
“The transfer from our current individual office set up to open plan also gives our staff a new sense of motivation to work from and this new layout should increase productivity.”
Marketing agent and Director at Savills, Dan Smith comments, “This is a great move for Murray Maclay & Spens. The Capitol re-development has kick-started the rejuvenation of Union Street and is a fantastic central hub for the firm and its clients.
The law firm are making the move from cellular office space in Aberdeen’s West End and The Capitols unique selling points make this Grade A open plan office space of incomparable quality and provide a working environment that will elicit the best from staff and employees.”
When fully occupied The Capitol will bring over 700 workers to the area every day, increasing footfall within the area, which will in turn support the local business community.
To find out how you could be accommodated at the Capitol, contact letting agents; Savills, Ryden and AB Robb.