BP’s main Aberdeen base for sale

By PERRY GOURLEY
Published on 20/10/2012 00:00

BP’s North Sea headquarters in Aberdeen have been put up for sale with a price tag of at least £57 million.

Although the oil group has committed to stay in the landmark building – where 1,300 staff are based - for at least eight years, the building’s owner, Pramerica Real Estate Investors, is looking to dispose of it.

The building, seven miles from the city centre and close to Aberdeen airport, was purpose built for BP in 2007 with parking for more than 840 cars.

BP currently pays more than £3.5m a year to use the building and an upcoming rent review is likely to see a significant increase. Agents Cushman & Wakefield said the building represented an “excellent investment opportunity”.

David Davidson, managing director of Cushman & Wakefield in Scotland, said: “Buildings of this quality with a global player as a long-term tenant don’t come along very often and we expect there to be a great deal of interest from both UK and international pension funds.”