It may be seen as a vote of confidence in the city at a time of acute concern in the north-east over UK Government North Sea tax policy, with oil and gas industry figures arguing that the energy profits levy is hitting jobs and diverting investment away from the area.
Analysis of Real Capital Analytics by property firm Knight Frank found that Aberdeen accounted for 42 of the 164 deals concluded in Scotland last year, a 26% share of the total market. This was up 20% on the year before and above the 14% average for 2020 to 2024.
Deals concluded in Aberdeen in 2025 included 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 in Scotland last year, with 59.
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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.”
The RCA figures show that the value of 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 included by £111m sale of Union Square – it was higher than the £213m average since 2020 – or £150m if 2024 is discounted.
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.”