Ventilation Shaft?

This shaft caught my eye when coming out of my gym the other day. Perhaps in an exhausted stupor, I really struggled to think what it was! I'm pretty sure it's been around for a while - my gym used to be a cinema that I went to in my youth. It sits on a traffic island, really no idea!

Well, I do have an idea - a ventilation shaft for something.

Any Aberdonians shed any light?