Investment

Buoyant Aberdeen makes up a third of deals

To date this year we have seen £210m of stock transacted throughout Scotland in 28 deals across 13 locations, with over a third of the deals being transacted in the buoyant Aberdeen area. Interestingly there is activity across a diverse range of sectors including car parks, care homes, ground leases, hostels, industrials, offices, retail, retail warehousing, shopping centres, sites, student accommodation and portfolios.

Lot sizes ranged from £800,000 up to £24m, with an average lot size of £7.45m. Aberdeen Asset Management, AVIVA, BP Pension Fund, CCLA, Harwood Real Estate, Kames Capital, Kennedy Wilson, KPMG, LaSalle, M&G REIM and Standard Life Investments all featured among our top twenty clients this year.

Highlight deals of the year include the forward purchase of the 53,000 sq ft new Bibby HQ in Westhill, for c.£13.8m.  The lease incorporated fixed reviews at 3% pa off a base rent of £20.00 per sq ft.

Key Savills deals:

  • Completed the sale of a prime block of Buchanan Street retail for the Lynett Group for £17.4m let to Vodafone, Bench and Starbucks;
  • Advising on the funding of a student accommodation block in Glasgow for £16m for Macdonald Estates using an innovative funding structure. 
  • Securing funding for a new HQ for Archerwell at Blackburn, Aberdeen for BP Pension fund for £12.48m.
  • The acquisition of Aspect 32, Westhill and securing an office let to Technip for CCLA for £13.5m.
  • The purchase of a prime block of retail on Buchanan Street for Cordea Savills for £10.45m.

It is encouraging to see activity return to the Scottish investment market, with an additional ten deals currently under offer with an aggregate value of £76m.

 
 

Key contacts

Nick Penny MRICS

Nick Penny MRICS

Director
UK Investment

Savills Edinburgh

+44 (0) 131 247 3803

+44 (0) 131 247 3803

 

Mark Fleming

Mark Fleming

Director
Investment

Savills Edinburgh

+44 (0) 141 222 5859

+44 (0) 141 222 5859

 

Bruce Patrick

Bruce Patrick

Director
UK Investment

Savills Edinburgh

+44 (0) 141 222 5873

+44 (0) 141 222 5873