Lismore advises on £15m acquisition of Aberdeen logistics units

LISMORE Real Estate Advisors has announced it has advised an overseas investor on the purchase of two ‘prime’ logistics units in Aberdeen.

The last mile units are situated on a nine-acre site to the south of the city at Wellington Circle extending to 170,000 sq ft. The two units are let to The Royal Mail Group and DHL Parcel UK, providing lease terms of eleven and six years respectively.

82% of the income is let to The Royal Mail Group, which has been in occupation since 1995. Both Royal Mail and DHL have shown commitment to the site by removing their 2022 break options.

The purchase price was circa £15 million, with a capital value of circa £89 per sq ft.

Lismore advised the overseas investor, whilst CBRE acted for the vendor.