NE Scotland, Orkney & Shetland

London bank pays £60m for Aberdeen office

petrofac building
Image caption The building has been sold by Northern-Ireland based Ulster Estates.

A landmark Aberdeen office has changed hands for £60m.

Gatehouse Bank is buying Bridge View and Consort House, which is the North Sea headquarters of oil services giant Petrofac and also an administrative centre for the National Health Service.

The new owners are a London-based bank which has savings and investments compliant with Islamic financial rules.

The building, built in 1998 and extended in 2006, has been sold by Northern Ireland-based Ulster Estates.

Rental appeal

About 1,500 people currently work in the building.

Scott Nicol, vice-president of real estate at Gatehouse Bank, said the reliable rental yield was one of the main attractions.

He said: "The Aberdeen office market has seen a greater take-up of space last year than any other key regional centre outside the south east, and is likely to remain buoyant for the foreseeable future.

"The severe lack of quality, large floor plated Grade A space has caused rental values to rise significantly."

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