Leading marine technology and aquaculture company OTAQ Group has agreed a five-year lease for 4,434 sq ft of space at Crombie Lodge, on Moorfield Group’s Aberdeen Innovation Park, for its new business base.
Crombie Lodge is currently undergoing a comprehensive reconfiguration and refurbishment programme to deliver 12,000 sq ft of Grade A standard commercial space. OTAQ is the second tenant to take space in the building, following on from systems integration specialist Servalec Controls, which agreed a 6,000 sq ft letting in late 2019.
The new space has been refurbished to OTAQ’s specification and consists of office and meeting accommodation, along with dedicated storage, laboratory and engineering space, with roller shutter doors.
The company is upsizing from a small suite in the neighbouring James Gregory Centre as part of its ongoing expansion programme, which has included the acquisition and integration of Link Subsea into the group.
The new office will initially accommodate eight staff, with OTAQ looking to recruit additional engineering and business development staff from this April.
Chris Hyde, OTAQ’s Chief Commercial Officer, said: “Our business is developing rapidly and we needed more substantial space to facilitate our expansion programme.
“We reviewed a number of locations in the area before making our decision. Crombie Lodge offers an outstanding location and provides our staff with a superb sustainable working environment, along with generous car parking space.”
“In concluding this deal, we were impressed by the can-do and flexible approach of Moorfield, which enabled us to secure quality space, designed for our business needs.”
Hugh Canham from Moorfield Group (on behalf of the parks’ owner, Moorfield Real Estate Fund III) said: “We’ve worked closely with OTAQ on the refurbishment programme and Crombie Lodge will give the company the ideal base to grow and develop.
“Only three units totalling circa 3,000 sq ft remain available at Crombie Lodge and it is clear that our sustainable refurbishment programme is proving popular with occupiers in the area.”
The programme of works at Crombie Lodge, which is being managed by Aberdeen-based architect Cooper & MacGregor, will be completed to Grade A standard and includes upgrades to the building exterior, along with the reconfiguration of the entire building, including reception and shared areas. The development will incorporate the best achievable sustainability and environment standards. Works are currently making good progress, with completion scheduled for this spring.
Commenting on the market, Daniel Stalker of Ryden added:
“Positive sentiment is now evident in the north east property market. Occupier demand remains strong for high quality, refurbished office space in strategic locations like Bridge of Don and we anticipate that this will continue for the remainder of 2020.”
Knight Frank and Ryden are joint agents for Aberdeen Energy & Innovation Parks.