Aberdeen based integrated subsea solutions firm, DOF Subsea, has agreed a significant pre-let at Horizons House, Waterloo Quay, Aberdeen. The negotiations were completed through DM Hall, one of Scotland’s leading firms of independent Chartered Surveyors and locally based chartered surveyors, Young & Company.
The development, which will enjoy open views over Aberdeen Harbour, will retain the original granite facade of the existing Horizons House and will ultimately comprise 59,162 sq. ft. of Grade A office accommodation.
DOF Subsea will lease the second, third and fourth floors of the five storey development totalling 9,845 sq. ft. which will have the capacity to accommodate up to 400 personnel. The lease will include 71 car parking spaces that will be accommodated within an under croft car park and a new adjacent multi storey car park.
The acquisition has been completed to accommodate DOF Subsea’s ambitious growth projections and allow the consolidation of all DOF Group Companies in UK (DOF Subsea, DOF Management and CSL) into a single location.
Additionally, DOF Subsea has agreed the five-year lease of new warehouse premises in the Bridge of Don. This will accommodate the on-going expansion of the supply chain function as the business continues to grow, giving the company increased scope to better serve the supply chain and logistics needs of its projects. The warehouse occupies over 13,500 sq. ft. and includes office space as well as parking for 16 cars.
Work on the development, which is a Joint Venture between Waterloo Quay Properties Ltd and Cromdale Ltd, commenced on 20th October 2014 and is scheduled to be completed in Q4 2015. The main contractor is Robertson Construction.
Stuart Johnston, Partner at DM Hall negotiated all commercial aspects of the lease for DOF Subsea, whilst the firm’s Head of Building Consultancy, Barry McGhee, advised DOF Subsea on and negotiated the developer’s base build specification and will monitor the project for DOF Subsea as construction works progress.
Stuart Johnston, Partner at DM Hall, said, “Following an exhaustive search to identify suitable alternative premises on behalf of our clients we are delighted to have secured space within the Horizons House development in line with our client’s preference to remain within the harbour area. Our involvement in this process has extended far beyond the negotiation of the principal terms of the lease and demonstrates the depth of capability we can offer to our clients across our Agency and Building Consultancy divisions to deliver a complex project of this nature.”
Giovanni Corbetta, Managing Director, DOF Subsea UK Ltd said, “I am delighted to announce our agreement on this property as this move builds on our success story in the region. DOF Subsea has grown significantly in the UK, adding to our staff team both on and offshore by nearly 30% in 2013/14 and we continue to make an impact as a high quality subsea construction, IMR and survey provider. We are looking forward to watching the DOF Group’s new UK home emerge at the harbour, bringing everyone together in the same location in line with our values of teamwork and excellence, and we are excited to continue our sustainable growth and development in the North Sea and beyond.”
Anna Marie Eardley, Managing Director of WQPL said, “We are thrilled to have attracted DOF Subsea, world leaders in their field, to our new Horizons House development. This project has evolved through years of careful planning and will form the flagship of our already very successful harbourside business complex. We are certain DOF will enjoy the benefits of our ‘Grade A’ office accommodation designed to offer ultimate flexibility and with finishes of the highest standard.”
Derek Young, Director of Young & Company, who represented WQPL said: “Horizons House will represent the first major harbourside development in Aberdeen for over 30 years. DOF have recognised the advantages of such a central location from an operational standpoint, with the development directly overlooking the city’s principal shipping access and within close proximity to all city centre amenities.”