Aberdeen office market round-up
Take-up in H1 2026 outperforms
Take-up in Aberdeen during Q2 2026 totalled 221,213 sq ft, which was achieved through 14 transactions. Take-up was 118% above Q2 2025, and significantly above the five- and ten-year averages. This was also the highest Q2 on record. This brought the half-year total to 289,695 sq ft, the highest first half of the year since 2015. Take-up was 78% above H1 2025, and 115% and 89% above the five- and ten-year averages.
Grade A take-up totalled 181,517 sq ft, accounting for 63% of the total. There were seven Grade A transactions, with three of these over 20,000 sq ft. Grade A take-up was 97% above H1 2025 and the highest H1 Grade A take-up since 2015.
Availability continues to fluctuate
Availability in Aberdeen at the end of Q2 2026 totals 1.84 million sq ft, an increase of 6% compared to the previous quarter. This means that the overall vacancy rate has also increased by 100 basis points (bps) to 17.8%; however, this is still well below the long-term average.
Grade A availability has also increased and now stands at 218,000 sq ft, an increase of 92% due to space being returned to the market. Subsequently, the Grade A vacancy rate has now increased and stands at 2.11%, an increase of 110 bps.
Extraction & utilities dominate the market
The most active sector during the first half of the year was ‘Extraction & utilities’, which leased a combined total of 216,776 sq ft, achieved through 11 transactions. The sector accounted for 75% of the total take-up, with Petrofac Facilities Management Ltd acquiring the largest of the sector and the first half of the year at Caledonia House, Prime Four Business Park. This was the largest transaction in Aberdeen since 2017, and the second largest for the sector on record.
‘Professional services’ was also active during H1 2026, leasing a total of 21,459 sq ft, accounting for 7% of the total.
Elemental Energies Holdings Ltd acquired the largest transaction of the sector at Prospect Road, Westhill for a total of 9,145 sq ft.
Take-up has been bolstered by a number of larger deals in the first half of the year, signalling improving occupier activity in the city.
Dan Smith, Director, Head of Office, Business Space Aberdeen
Headline rent
There was no change in the prime rent in H1 2026, with headline rent remaining at £32.50 per sq ft.
With a continued constrained supply of best-in-class space in Aberdeen and no new development, Savills is predicting that there will be significant rental growth in the next five years, with the most recent forecasts projecting a 3% increase to £33.50 per sq ft by the end of 2026, and further rental growth of 11% to £36.00 per sq ft expected by the end of 2030.
Find out more about Aberdeen's property market here.
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