AcquisitionUK Regional
Bridgeview & Consort House, Aberdeen
Acquisition of HQ Office Property, Aberdeen, Scotland
Gatehouse Bank, the Shariah compliant investment bank has acquired the Bridge View and Consort House in Aberdeen from Ulster Estates for £59.9m.The deal represents a net initial yield of 7.15%.
The 159,170 sq ft property is the largest office development in central Aberdeen. It is let to oil and gas service provider Petrofac as its North Sea office headquarters which occupies 142,379 sq ft, and the Scottish Ministers (NHS) which occupies the remaining space.The building has an average weighted unexpired lease term of 14 years.
Gatehouse Bank were represented by Nightingale Partners; the deal was concluded off-market.
