Drum Completes Statoil Sale

13th February 2018

Drum Property Group has completed the sale of a 45,000 square foot office at Prime Four Business Park, Aberdeen for £18.7m to international investment group, Golden Globe Ltd.

The purpose-built complex is let on a long-term lease to Statoil for its operations centre managing the firm’s UK North Sea development and production activities.

Drum Property Group Managing Director Graeme Bone said:

"We are delighted to have concluded this latest transaction at Prime Four, and are very encouraged the park continues to attract significant interest from the UK and International investment markets. Drum remains committed to continuing to invest in additional services and amenities for Prime Four, and the surrounding area, as it continues to grow its reputation as a major global energy hub and the premier business park in the north of Scotland.”

Drum’s total investment at Prime Four to date exceeds £275m and the firm is currently developing plans for additional office complexes and an out of town retail park at the site. Over 1.8 million sq. ft. of commercial accommodation will be built once the development is completed.