Abrdn ends Edinburgh office lease to save millions

Abrdn ends Edinburgh office lease to save millions

In a move that will save millions per year, asset manager abrdn has decided to leave its head office in Edinburgh’s St Andrew Square due to the increase of hybrid working at the firm.

The company said that half of the 105,000 sq ft space was unused, so most of its 1,200 staff will relocate to its historic home at 1 George Street, which it first moved to in 1840.

An abrdn spokesperson told Scottish Financial News: “Like many companies, the way we use our office space has changed fundamentally since the pandemic.

“With a hybrid working model now firmly embedded, we’ve been reviewing how our colleagues use our Edinburgh buildings to connect, collaborate, and engage with clients, while taking into account our costs and environmental impact.

“The decision to relocate our teams into other abrdn buildings in the city will make better use of space, with less impact on the environment and at lower cost.”

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