Oil & Gas

Enerco set for £3million new office complex

EXPANSION: Enerco Group chief executive Jamie Bennett said the expansion would help the company grow

Enerco Group is investing £3million in an office complex in the west end of Aberdeen as part of plans to expand the three-year-old business.

The new property is at 18 Carden Place and was previously owned by partners in legal firm Esslemont Cameron Gauld, which merged last July with Ledingham Chalmers.

Enerco, set up in 2010 to encourage the next generation of oil and gas entrepreneurs, will keep its Granite City headquarters at Enerco House, in Albert Street.

But from early next year group companies will have an extra 9,000 square feet of refurbished office accommodation, with room for 100 people, at the new site.

Enerco described its multimillion-pound investment as a strategic move to bolster its service and grow its position in the region.

It said the property expansion followed sustained business wins for its companies, with contracts secured during the fourth quarter of last year alone worth a total of more than £20million.

Chairman and chief executive Jamie Bennett added: “The refurbishment and extension of Carden Place will provide us with the means to expand our business and shall increase the capacity of our international headquarters based here in Aberdeen.

“The new office complex will be a key base for us in achieving our growth objectives.”

Enerco is focused on creating, investing in and growing upstream oil and gas technology-based companies.

Mr Bennett launched the business, then called Enerco Venture, to meet what he saw was a gap in the market by providing flexible finance and hands-on support and mentoring to emerging entrepreneurs in the sector.

Enerco currently supports two Aberdeen businesses, Operational Excellence Group and Mintra Training Portal, and has created about 50 jobs in the city to date.

In the middle of last year, the group said it was targeting annual turnover of £5million by the end of 2012.

Buying 18 Carden Place meant Enerco having to trump seven competing bids for the three-storey townhouse.

Property consultant F.G. Burnett, which handled the sale, said the price achieved – more than £1.7million – highlighted the high demand for offices in Aberdeen’s sought-after west-end business district.

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