Edinburgh-based building and project consultancy Paragon is advising on the £1.8m partial refurbishment of Aberdeen’s 120,000 sq ft Union Plaza building to deliver a new type of flexible office accommodation.
Called ‘Capsule’, the concept has been created by the building’s owner and manager, LGIM Real Assets. It provides more flexibility in the leasing process, offering a range of ready-made furnished facilities and ‘plug and play’ options to suit occupier needs. Capsules can be operational within 24 hours.
LGIM Real Assets has appointed Paragon to provide project management and contract administration services on the refurbishment. A team led by Paragon director and Edinburgh head of office, David Philip, is delivering the work.
Opened in 2008, Union Plaza’s occupiers include Aberdeen Standard Investments, services and software company AGR Group and law firm Burness Paull.
In February, LGIM Real Assets announced road and rail transport technology solutions supplier Trapeze Group as the first Capsule occupier at Union Plaza. A further suite sized 3,552 sq ft is under offer with another sized 2,755 sq ft remaining. All suites are fitted to Category B standard.
Commenting on Paragon’s appointment, Andrew Mercer, office sector lead at Legal & General, said: “Paragon has an excellent reputation for project managing high profile refurbishments and office transformations.
“Paragon’s expertise and practical, commercial advice have been helpful in the success of our Capsule project at Union Plaza. This is evidenced by securing our first Capsule occupier in Scotland within the building and the significant interest being shown in other Capsule suites.”
In addition to the Capsule suites completed in phase one, work has now commenced on the second phase. This is expected to be completed in June and will see the building’s reception area transformed, further improving the facility for occupiers, and two further Capsule suites created on the ground floor.
Paragon’s David Philip added: “It is great to be involved with LGIM Real Assets on a project that is transforming the way office space can be utilised within Aberdeen city centre.
“Capsule is already proving popular at Union Plaza and is an excellent way for occupiers to move into high quality, fitted out suites on flexible terms. It will provide the platform for ambitious businesses to locate within the city centre, enabling job creation and further investment.”