Knight Property Group has today received planning consent for its plans to develop the Capitol Theatre in the heart of the city.
Aberdeen City Council approved the plans which total an investment value of £30 million and are set to breathe new life into the historic landmark building on Union Street.
James Barrack, director of Knight Property Group said:
“This is fantastic news, not just for Knight Property Group, but for Aberdeen as a city. Now, we can look forward to restoring and redeveloping this iconic building and breathing some life back into the city centre and the west end of Union Street.
“I firmly believe that we as a city need to offer companies the best commercial property options, otherwise we are in danger of these businesses setting up bases and making investments elsewhere.
“On completion, the office space will house up to 700 people and will go towards meeting the current demand for prime office space in the city centre. By offering businesses high quality options in Aberdeen, this is a real win-win situation for all involved. Local retailers and suppliers in the area can benefit from greater footfall, and transforming units which were in decline will kick start the regeneration of Union Street, helping it to become an attractive location for businesses to set up and grow.”
Following today’s decision, work will begin immediately on the listed building, which dates back to 1933, for a 2015 completion. Over this 18 month period, The Capitol will be redeveloped to create prime office space covering approximately 70,000 square feet.
“We have consulted with Historic Scotland during the planning process to ensure that many of the original art deco features within the building are retained and restored. As part of this, we are also working with the Aberdeen Theatre Organ Trust to remove the original Compton Organ carefully, piece by piece, so that it can be recovered, re-homed and displayed to the public at an Aberdeen location.”
As part of the redevelopment, the property developer will install an escalator to link the refurbished art deco front of house with the new build office development to the rear which incorporates stonework, glass and curtain walling. The exterior of the building will be restored, paying specific attention to the Union Street frontage of the building and restoration of the former canopy.