Queen Street Aberdeen

Mixed-used city centre redevelopment opportunity in a vibrant cultural quarter.

Queen Street Aberdeen is about to transform it into a new residential-led space that breathes new life into the city. It neighbours cultural venues, grade A offices and prestigious tenants in Marischal Square, a successful £107 million development.

This multi-phase scheme is in a prime location and the opportunity could take various flexible forms (i.e. equity or debt finance). Capitalise on Aberdeen’s growing cultural reputation and economic prosperity now.

Aerial image of the Queen Street area in Aberdeen city centre, featuring Marsichal Square and Quad.

37,000 sq m prime site in the heart of Aberdeen

£150m Gross Development Value

All ten phases to be complete by 2025-26

7.4% economic growth

in Aberdeen expected over the next five years

Aberdeen among the world's top 5 energy cities

and home to 25% of Scotland's to 100 companies

More on Aberdeen City Council website

Queen Street will be a residential-led mixed-use urban quarter in the historic heart of central Aberdeen. It is adjacent to the new (£107 million) Marischal Square development.

The initial land assembly phases of the project are underway with development expected to start in 2020/21. This may include a hotel, 350 apartments and 9,000 sq m of leisure and retail development. Estimated construction cost of these initial phases is £50 million.

Queen Street will deliver a new urban quarter alongside existing cultural facilities and will create a vibrant day and evening neighbourhood.

The project is central to the city living approach that is being promoted to re-energise the core of the city and is complemented by major investment in public realm, infrastructure and iconic parks and squares.

Aberdeen’s economy is diversifying quickly, and the city was recently recognised as one of the best places in the UK to start a new business as well as the best place to live and work in Scotland (2019). More than £10 billion of public and private infrastructure investment is due to be delivered before 2030.

Aberdeen is one of the world’s top five energy cities, home to a quarter of Scotland’s top 100 companies. GVA sits at £18,235 million– 12.8% of the Scottish total (2018).

Queen Street is being promoted by Aberdeen City Council in association with several public sector stakeholders, including the Scottish Government.

Investment opportunities

A multi-phase scheme with opportunities for flexible investment including equity or debt finance plus joint ventures for some or all phases.

More on the Invest Aberdeen website

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Disclaimer

Whereas every effort has been made to ensure that the information in these pages is accurate, Scottish Enterprise and Scottish Development International does not accept any liability for errors, omissions or misleading statements. And no warranty is given, or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. Investors will need to undertake their own due diligence in conjunction with individual project promoters/sponsors in relation to the detailed project investment opportunities presented.