INSIGHT
How Balmoral Group weathered a decade of disruption

Insight by Andrew Davidson, Balmoral Group - 10 November 2025

Aberdeen’s economy has faced more than its share of turbulence over the past decade. From the oil price collapse of 2014 to the impact of COVID-19 and the rapid shift to hybrid working, the city’s commercial property market has been tested time and again. Yet through these challenges, one constant has remained: Aberdeen’s capacity for resilience. And at Balmoral Business Park, that same resilience has been built into the foundations of how we support local businesses.

Building confidence in uncertain times

When Balmoral opened Building One in 2014, it was a bold step. The development launched just as oil prices plummeted, triggering one of the toughest downturns in decades. But where others saw risk, Balmoral saw long-term potential.

Our approach was rooted in belief: belief in Aberdeen’s skilled workforce, diverse industries and ability to reinvent itself. Rather than chasing short-term yield, we made a commitment to creating adaptable, high-quality space that could support growth - whether for start-ups needing a two-person suite or established firms seeking room for 100.

A home for diverse and growing businesses

Today, more than 25 organisations call Building One home, spanning sectors from engineering and digital services to HR, health and wellbeing. Alongside our partners at Lomond House, which provides additional office, warehouse and yard space, the business park has become a thriving hub for enterprises at every stage of their journey.

Many of our tenants have grown within the park, expanding their footprint rather than moving on. That continuity reflects not only the flexibility of the space but also the sense of community and support that underpins our approach. Shared common areas, EV charging points, ample parking and responsive management ensure that businesses can focus on what they do best.

More than property: reinvesting in community

At Balmoral Group, success has never been about filling space. It’s about creating an environment where businesses can scale with confidence - and where growth contributes to something bigger.

Income from Balmoral Business Park helps to support charitable initiatives including Friends of ANCHOR and the Milne Family Foundation. This circular model of reinvesting in people and communities is unusual in the property world, but it reflects our wider purpose as a group.

Looking ahead with quiet confidence

As Aberdeen continues to diversify its economy and lead in the energy transition, the role of resilient, flexible workspaces will only grow in importance. Balmoral Business Park has shown that with patient investment and local belief, it is possible not only to weather uncertainty but to help businesses thrive through it.

For our tenants, it is more than an address. It is a place to start, to scale, and to stay. For Aberdeen, it is a reminder that the future is built step by step - through commitment, confidence and spaces that enable growth.