Pinsent Masons' Property team advised Miller Cromdale on the pre-letting of a new 40,000 ft² (approx. 3,716 m²) headquarters building in Aberdeen to oil and gas production company GDF Suez E&P UK Ltd.
GDF Suez E&P UK Ltd has agreed a 15 year lease of the building which underlines the company's commitment to North Sea exploration and production. The five-story grade-A office building will accommodate up to 200 people and will consolidate the three current GDF Suez sites in Aberdeen.
Established in 2000, Miller Cromdale is a joint venture partnership between Miller Developments and Aberdeen based property development company, Cromdale Ltd.
Pinsent Masons has acted for Miller Cromdale since 2008 and was represented by senior associates Martin Devin of the Property team and Powan McDaid of the Engineering Procurement and Construction division.
Pinsent Masons' Devine said: "Securing a pre-let of this scale with a company like GDF Suez E&P UK Ltd in the current market is great news for Miller Cromdale. It is very welcome to see developers like Miller Cromdale developing again and the undertaking by GDF Suez E&P UK Ltd is significant. We think this is an indicator of the current strength of the Aberdeen commercial property market and is hopefully also a positive sign that the wider Scottish market is on the road to recovery."
Miller Cromdale development director, Pamela Grant, said: "We have enjoyed a strong presence in Aberdeen for over 12 years with more than 350,000 ft² developed and this latest success further illustrates our status in the Aberdeen market. Our involvement in the overall regeneration of the North Dee Business Quarter has transformed it into the major city center office location and with further detailed consent for more than 250,000 ft² in the area we look forward to further developments in the near future."