Aberdeen Standard Investments has completed an off-market deal to buy two prime DPD industrial facilities in Aberdeen and Lincoln for around £20m, from Riverside Capital.
The properties are located at Badentoy North Industrial Park in Aberdeen, and Network 46 at Lincoln’s Swinderby Industrial Estate. Both measure 43,000 sq ft, with unexpired terms of 20 years and 15 years respectively.
Riverside Capital previously bought the buildings in separate transactions in 2016.
Geoff Hepburn, deputy fund manager at Aberdeen Standard Investments, said the deal has completed with the backdrop of a “particularly aggressive and competitive” market.
He added: “Both the quality of the real estate and the tenant function sit very well within our target sectors and offer our client secure income with growth potential.”
Stuart Agnew, managing director at Avison Young’s Edinburgh office, which advised on the deal, said: “Both units are in excellent accessible locations ideal for the parcel delivery/logistics sector, where there is continuing strong occupational and investor demand.”
Galbraith LLP and Levy Real Estate advised Riverside Capital.
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