Pramerica has put BP’s HQ in Aberdeen up for sale for £57.2m – yield 6.75%.
The 192,837 sq ft building is let to BP for a further 8.67 years and provides an annual rent of £3.6m. A guaranteed minimum uplift to £4m pa is due at review on 26 November.
The five-year-old grade-A office block, comprises four separate wings and sits on a 15-acre site, close to Aberdeen International airport and Dyce railway station, seven miles north of the city centre.
A source said: “The interest in this building will be huge. There will be a bun fight over the asset as it’s such a good covenant. Aberdeen continues to be in an economic bubble due to the oil and energy industries.”
Cushman & Wakefield is advising on the sale.
Lisa.Pilkington@estatesgazette.com
