Highcross has bought seven office and industrial properties in Aberdeen, Dunfermline and Glasgow, from Bonnytoun Estates for £20.3m – a 9.1% yield.
The properties, which total 350,000 sq ft, are part of the Ben Cleuch portfolio.
Mark Evans, who leads Highcross’ Scotland-based team, says: “Highcross is building a strong portfolio of office and industrial schemes in key locations in Aberdeen, Glasgow and Edinburgh. These latest acquisitions, all of which are in established business and industrial areas, offered an attractive opportunity to add significant value, through re-gearing, implementing rent reviews, and letting vacant space.”
In the past six months, Highcross has also completed the purchase of two further office and industrial schemes in Aberdeen – Silverburn House, Bridge of Don, and a 100,000 sq ft industrial/distribution unit at Wellheads Terrace.
Highcross was advised Colliers International; Jones Lang LaSalle acted for Bonnytoun.
samantha.mcclary@estatesgazette.com
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