A developer has unveiled plans to spend £30m breathing new life into a historic building on Aberdeen’s Union Street.
Formerly the Capitol Theatre, the listed building dates from 1933 and will be restored and refurbished over 14 months to create 70,000 sq. ft. of speculative office space.
Knight Property Group is consulting with Aberdeen City Council and Historic Scotland to establish which of the original art deco features can be retained and restored. The company also plans to install an escalator to link the art deco front of house with a new glass tower. For the exterior, special attention will be paid to the front of the building and the restoration of the former canopy.
James Barrack, director of Knight, said: “This is a significant development for us and it will see one of Aberdeen’s most historic and iconic buildings restored to its former glory.
“City centre office space continues to be in high demand so we expect this development to be a popular location for companies based and working within Aberdeen. The flexibility of the space means that it can be tailored to accommodate individual business requirements, from 5,000 sq ft up to 70,000 sq ft.
“The Capitol is an iconic building and unfortunately for the last few years it has been empty and in decline. We are working closely with Aberdeen City Council and Historic Scotland to retain some of the internal features and characteristics of its art deco roots.”
Susan Bree, chief executive of business organisation Aberdeen Inspired, believes a vibrant Union Street is crucial to the future of the city centre. “We are keen to see the regeneration of vacant property units and sites within the Business Improvement District and Union Street is at the heart of that. The Capitol is an iconic building and part of the heritage of Aberdeen and we welcome Knight Property Group’s plans for its redevelopment.”
Image – The office space is being created on a speculative basis.