December 6, 2010
Highcross has acquired Silverburn House in Aberdeen for £16.27m, reflecting an initial yield of 10.03% rising to 11.08% in 2012.
The property, which includes 123,174 sq ft of offices and a 15,000 sq ft leisure centre, is fully let to Vetco Gray on three separate leases.
Silverburn House is located on the A90 Ellon Road, at Bridge of Don, with excellent access to the city centre and airport. The building includes four separate wings around a central courtyard.
Mark Evans of Highcross says: “Aberdeen is a market which we have great experience of over the years and are extremely pleased to have acquired this significant asset in the City for our latest Fund. We are now looking at further, added value, opportunities in Aberdeen of a similar nature to Silverburn House.”
Highcross was advised by King Sturge, Edinburgh and the seller by Strutt & Parker and Ryden.
