Property consultants FG Burnett and James Barr have secured an investment sale at one of Aberdeen's premier office parks just two days after its official opening.

Unit 18 at Gladman Development's Abercrombie Court in Westhill has been sold to Kenfield Properties LLP, a private Aberdeen investment company.

The price achieved was in excess of £1m and reflected a net initial yield of 8.25% for the purchaser.

Three units were pre-let prior to practical completion of Abercrombie Court, including 5,250 sq ft Unit 18 which is let to Northern Offshore UK Ltd.

Abercrombie Court is a 145,000 sq ft office development at Arnhall Business Park. Arnhall is already home to new headquarters for leading oil and gas sector companies Acergy, Subsea 7 and TAQA, the Abu Dhabi National Energy Corporation.


FG Burnett and James Barr are letting agents for Gladman Development and also advised on the sale of the investment of Unit 18.

FG Burnett director David MacLeod said: "Gladman are delighted to have concluded this investment sale so soon after the opening of the development. It really shows how well the market has responded to Abercrombie Court, with tenants, owner occupiers and investors recognising this as an excellent product at a first class location.

"From an investment perspective, Kenfield Properties have identified that Westhill is a strategic office location within the Aberdeen market and they recognise the long term prospects for the investment."

Graeme Davies of James Barr, added:"We hope to announce another investment sale within a couple of weeks and have other investors who have expressed interest as soon as further product is available. Given the very encouraging level of enquiries from tenants, we are very confident that we will soon have more lettings and therefore more investments to sell."

The Gladman development provides a range of high specification office buildings from 2,250 sq ft to 25,500 sq ft with self-contained detached and semi-detached buildings available either to lease or purchase. All the buildings are arranged in Gladman's acclaimed courtyard design, providing an attractive working environment with the benefit of designated on-site car parking.

(GK/JM)