A new image has been released of the proposed Marischal Square development as work at the site passes the 10 week mark.
The £107 million complex is set to include a civic square, 173,500 sq ft of office space and car parking, a 126-room Marriott hotel, and seven eateries including All Bar One and Burger & Lobster.
Muse Developments, the firm behind the project, opened the site for media and guests to see the site.
The construction process, has created jobs for 300 people with work continuing until summer 2017.
Up to 1,500 new jobs could be created when the project is complete.
Muse’s regional director for Scotland, Stephen Turner, said he was delighted with the progress made so far.
He said: “Marischal Square will be a keystone of the vision of the council’s City Centre Masterplan proposals, providing a new civic square for Aberdeen and creating an enhanced setting for Marischal College.
“It will also deliver a vibrant new mixed-use development in keeping with Aberdeen’s justifiable position as one of the UK’s leading business destinations.
Muse, an award winning developer, which has an extensive track record in developing similar projects throughout the UK, was appointed as development partner with Aberdeen City Council on Marischal Square in 2013.
The company’s Regional Director for Scotland, Stephen Turner, said he was delighted with the progress made so far and that Muse and its partner Aviva Investors has been in a position to deliver the structure that it proposed to the city council from the outset.
“Marischal Square will be a keystone of the vision of the council’s City Centre Masterplan proposals, providing a new civic square for Aberdeen and creating an enhanced setting for Marischal College. It will also deliver a vibrant new mixed-use development in keeping with Aberdeen’s justifiable position as one of the UK’s leading business destinations,” he added.
“The development will make a long-term impact on the local economy and it is encouraging that our vision for the project, and that of our partners at the council and Aviva, has already been shared by leading businesses including Marriott, All Bar One and Burger & Lobster.
“It is vital the city has the right mix of office and commercial space to capitalise on the business opportunities of the future. Muse and its experienced advisors are confident of having tenants taking up space within the Grade ‘A’ office accommodation by the summer of 2017.”
With plans to make Broad Street a ‘shared space’ (buses and taxis only) part of the proposals included in the council’s wider City Centre Masterplan discussions, Aberdeen City Council Depute Leader, Councillor Marie Boulton said Marischal Square balanced the essential commercial requirements of the project with a scheme which would reflect positively on the city and those ‘living and breathing’ the development in the years to come.
“We have been very pleased to see the high level of interest already expressed by leading companies in the Marischal Square development and are confident that this will continue as we move forward with this exciting project, “ added Councillor Boulton.
“Aberdonians can look around the city and see evidence of major private sector investment, including a recent announcement of a £200million extension to the Union Square shopping centre, which provides a welcome vote of confidence in the north-east economy given the recent downturn in the oil and gas sector.”
Julian Taylor, Head of REaLM Funds at Aviva Investors said: “Aberdeen remains one of the key business destinations in the UK and with funding already in place, the Marischal Square project has been in a position to move forward with confidence – a position reinforced by the decisions by Marriott, Burger & Lobster and All Bar One to agree deals to take space on site a full two years ahead of completion.
“There is no doubt that what we are building on the former St. Nicholas House site will resonate both with the business sector and the community at large and the City Council’s forward thinking outlook on the development and wider City Centre master planning process will pay dividends for years to come.”
Leading UK Commercial Property agents CBRE and Ryden are working with the project partners on Marischal Square and both organisations are encouraged by the early reaction to the development from the business sector and confident of the future success of the development.
CBRE Managing Director – Aberdeen, Derren McRae said: “Marischal Square will be a truly transformational development for Aberdeen city centre. Over recent years we have seen a migration of companies to ‘out of town’ locations – a period in time when there has been a lack of high quality, ready to occupy, open-plan floor space available in the city centre. This in turn has resulted in a noticeable reduction of office worker spend in the city centre shops, bars and restaurants.
“The 177,000 sq ft of Grade A office space being created will go a long way in addressing this situation with the potential for up to 1500 office people coming to work in this area of the city centre. The fact that terms are already agreed with four high quality bar and restaurants prior to launch, demonstrates operators’ appetite for both the stunning views and high level of footfall which will be created at Marischal Square.”
Ryden LLP Partner in Aberdeen, Arron Finnie added: “Marischal Square will provide much required Grade ‘A’ office accommodation for this area of the city and breathe new life into the heart of Aberdeen. This bold development will bring more workers into the city to make the most of the existing surrounding amenities as well as the new offerings which will be provided as part of the scheme. Although completion is not until summer 2017, we have been encouraged by the initial interest we have received.”