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Ryden signs up NXG Drilling services at Altens Industrial Estate

29th August 2017

Ryden has sub-let a modern industrial unit with warehouse, offices and secure yard totalling 2,351 sq m / 25,307 sq ft at Altens Industrial Estate to NXG Drilling Services on behalf of head tenant Hunting Energy Services.

The offshore services company is relocating its north-east operations from Aberdeen city centre and has taken the unit, located at Harness Circle, on a three-year lease at a rent of £152,650 per annum.

The firm joins nearby occupiers including Shell, Weatherford, Frank’s International, Total, Baker Hughes and DHL.

NXG has also agreed a lease on a three acre site within the IOS Longside Supply Base near Peterhead. 

The firm, founded at the start of 2017, has invested more than £2m in to its two new north-east operations. It also has plans to more than double its existing workforce of 15 people by the end of the year as a result of its expansion. The investment follows increased demand for the firm’s tools and equipment solutions.

Mark Stephen, COO at NXG Drilling Services, said: “The launch of the business has gone extremely well.  We’ve secured contracts across four continents and are looking to add more in the next few months.  We certainly have the capability and capacity to handle additional projects.”

Paul Richardson, partner at letting agent Ryden, commented: “Our client is delighted that we’ve signed up such an emerging and dynamic business as NXG to sub-let its accommodation at Altens Industrial Estate.  The estate is one of Aberdeen’s most well established and popular business locations and is the ideal location for NXG to continue to grow and expand.”

NXG was unrepresented in the transaction.

Paul Richardson

Paul has been with Ryden for over 18 years. He has vast experience of providing buying, selling and letting advice to a wide range of clients across the North East of Scotland. He specialises in industrial agency and development.

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