Knight Property Group and M&G Real Estate celebrated the completion of The Capitol at their grand opening of the building on Thursday the 21st of April. Greeting their guests with a red carpet and paparazzi, the team created one last cinematic experience before the building begins operating as an office.
From a cinema, to a theatre and latterly a bar and night club, The Capitol theatre closed its doors in 2008. Laying derelict until Knight Property Group and M&G made the purchase in 2013, the building was left in a state of disrepair. Suffering from years of neglect, the iconic art deco building was left unrecognisable suffering from vandalism and the ingress of water.
Keeping The Capitol’s original features within the front of house was a high priority. Over the 22 month period, both Knight Property Group and main contractor Andrew Cowie Construction have worked hard to ensure that the building was restored to its former glory, refurbishing the canopy entrance and inner vestibule doors, art deco light fittings and clocks, pilasters and motifs.
James Barrack, Managing Director of Knight Property Group,
“At the heart of the Capitol redevelopment is a desire to bring new life to an iconic but derelict building. Incorporating the old with the new, we have worked closely with the project architects, Keppie Design, to ensure that the building seamlessly moves from the 1930’s art deco front of house into the column free grade A office space in the back.”
“I don’t think we appreciated at the time the level of damage which had occurred over years of neglect. The difference from purchase to completion is astounding. It’s a proud moment within my career knowing that we have restored an Aberdeen landmark to its former glory.”
With the top floor pre-let to Pricewaterhouse Coopers, marketing agents AB Robb, Ryden and Savills are excited about the prospects of further lettings at The Capitol.
With 72,600 sq. ft. of column free office space, The Capitol development has space for approximately 700 employees working within the building and visiting retailer, restaurants and local businesses will benefit from an increase in footfall in the area.
Gary Craig, Chief Executive of Aberdeen Inspired comments,
“The Capitol building project within Union Street is a shining example of how the regeneration of vacant property units can help breathe new life into the surrounding area.”
“Aberdeen is currently experiencing a shortage of premium office space within its city centre and developers have to be innovative with their solutions; the Capitol building is unique and represents a sea change in the approach to development on Union Street. To have a complex of this stature and importance within the Business Improvement District is a major coup for the BID zone and I commend the project’s team for their foresight in developing a new chapter in the life of what is one of the city’s most iconic buildings.”
For more information on The Capitol development visit www.knight-thecapitol.co.uk