Another “Big Four” global accountancy giant has chosen Marischal Square as the new home for its Aberdeen office.
KPMG’s 140-strong north-east team will move into part of the fourth floor of 1MSq, shared with the NHS, early next year.
The firm said the decision to relocate business that “has been part of the fabric of Aberdeen since the 19th Century” reflected its own ambitions in the Granite City, as well as confidence in the area’s future.
Marischal Square developer Muse Developments hailed the decision as another boost for the £107 million scheme’s “burgeoning reputation”.
Besides the many benefits of working in modern, open-plan offices in an increasingly bustling part of Aberdeen, KPMG’s staff will be able to keep tabs on their rivals at EY – and vice-versa – on the fourth floor of 2MSq.
Both professional services firms are abandoning much older buildings in the west end, where increasing costs are driving an exodus of business – property experts call it the “flight to quality” – into new accommodation such as Marischal Square, The Capitol and The Silver Fin in the city centre.
EY will relocate to 2MSq from Blenheim House on Fountainhall Road next year, with KPMG expecting to complete its move into 1MSq – from 37 Albyn Place – by the end of March.
PwC moved its Aberdeen team from Albyn Place to The Capitol in late 2016, while the other “Big Four” professional services firm, Deloitte, has a long-term lease for Union Plaza on Union Wynd.
According to property industry insiders, 1MSq and 2MSq – already home to the likes of Aberdeen Journals, Royal Bank of Scotland and coworking specialist Spaces, as well as a fast-growing roster of food and drink retailers – are on track to be filled next year.
Aberdeen City Council co-leader Jenny Laing said: “KPMG’s arrival means another high-calibre firm and its staff will be located in the city centre, which was a main aim of the Marischal Square project.
“This area of the city centre has been revitalised and I am confident it will continue to go from strength-to-strength.
“More and more people are attracted to the thriving eastern end of Union Street, which in turn is contributing to the wider economy of the north-east.”