An example of the attractions of Aberdeen is that, for its first investment in Scotland, Arium, the fund manager, is poised to buy the recently completed 11,613sq.metres (125,000 sq.ft.) IQ building on Justice Mill Lane, which brought a yield of 6.5%.
The attraction is that the property was quickly let to two energy companies, Centrica and Wood Group. It underlines the status of Aberdeen as a top regional city since there is so little empty space available. Another significant transaction is the sale of the 9,290 sq.metres (100,000 sq.ft.) former warehouse of Diamond Envelopes at Dyce (now occupied by oil and gas supplier Petrowell) for £6.7 million to Highcross. The yield is 9%.
Chris Grinyer of J&E Shepherd, who acted for Diamond, said: “The sizeable sale is one of the largest industrial buildings sold in Aberdeen in recent years.”
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