Aberdeen takes largest annual share of 2020s commercial property deals

The independent commercial property consultancy’s analysis of Real Capital Analytics (RCA) data found that the Granite City accounted for 42 of the 164 deals in Scotland during 2025 – a 26% share of the total market. That was up from 20% the year before and well above the 14% average for 2020-2024.

Among the deals concluded in Aberdeen during 2025 were the sales of a portfolio of office assets at Kingshill Park in Westhill, St Magnus House on Guild Street, and the Aberdeen bases of energy companies CNOOC, Apache, and Taqa. Only Glasgow registered more deals last year, with 59.

In total, RCA’s figures show investment in the Granite City’s commercial property market reached £218 million for 2025. While that was down on the previous year’s £468m – which was skewed by the sale of Union Square for £111m – it was ahead of the £213m average since 2020 – or £150m if 2024 is discounted.

Euan Kelly, capital markets partner at Knight Frank, said: “Aberdeen has become a hub of deal activity over the last couple of years. Buyers see good value in the city and an opportunity for attractive returns, while sellers are looking to new opportunities and are realistic on pricing – that is bringing the two closer together and helping transactions move forward. With quality stock on the market, we expect Aberdeen to continue to be active in 2026, notwithstanding the uncertainty around oil prices at the moment.”

Matt Park, partner at Knight Frank Aberdeen, added: “The Granite City is going through a period of change, and that is very much reflected in what’s happening in its commercial property stock.

“While the occupier market has been challenging in the last couple of years, availability for best-in-class space is at low levels and demand for the right stock remains relatively strong. That means there are opportunities for owners who can reposition properties or see the long-term opportunities Aberdeen has to offer.”