Lloyds Register

Lloyds Register

Location: Aberdeen

Project: Commercial

Completion: 2017

In January 2015, Drum Property Group secured Lloyd’s Register Group (LR) as the latest world class energy services company to select the Prime Four business park at Kingswells, Aberdeen as the location for its North East Scotland operations. 

The global engineering, technical and business services organisation, which operates across the globe with over 9,000 employees, agreed a 15-year tenancy at the park from January 2017. Its 102,000 square feet purpose built office complex will have capacity for up to 900 employees, bringing the total number of workers based at Prime Four to over 3,500 by the middle of 2017.

The pre-let and construction deal represents one of the biggest in Aberdeen in recent times and concluded at a time when oil prices had fallen more than 50% from their cyclical peak.

Drum completed the construction of the building in April 2017, which LCN Capital Partners acquired as part of a build-to-suit transaction for £43.2m.