Harbour view as firm moves to new offices

COVETED ADDRESS:  Exchange No1 overlooks Aberdeen’s harbour
COVETED ADDRESS: Exchange No1 overlooks Aberdeen’s harbour

Norwegian shipping company SolstadFarstad is relocating its Aberdeen offices as it grows its business in the UK North Sea.

The firm has signed a 10-year lease for part of the third floor of the Exchange No 1, opposite the city’s harbour.

SolstadFarstad, which has its HQ in Skudeneshavn on the Norwegian island of Karmoy, will move from Salvesen Tower on Blaikies Quay.

Its deal for about 4,700sq ft of The Exchange No 1 as well as other recent lettings at the same building leave 15,000sq ft of the city centre property still available.

Savills secured the tenancy on behalf of the London-based landlord, Hermes Investment Management (HIM).

Dan Smith, director at Savills in Aberdeen, said: “After extensive speculative investment in a comprehensive refurbishment, The Exchange now offers high quality office accommodation in a highly sought-after location.”

FG Burnett was joint letting agent, with Shepherd Chartered Surveyors acting for the new tenant.

HIM is one of the UK’s largest institutional asset managers, with a £35.3 billion asset portfolio.

Its latest occupant at The Exchange No 1, SolstadFarstad, is represented in all key offshore oil and gas regions of the world.

The shipping group was formed last year with the merger of Solstad Offshore, Farstad Shipping, Deep Sea Supply and Rem Maritime.

It operates more than 140 vessels and more than 4,000 staff in activities focused mainly on markets in Europe, Brazil, Australia and Asia.

The company is growingits UK North Sea operations, having earlier this year forecast rising demand for its services, particularly for platform supply vessels.