Multiple units within one of the most iconic buildings in Aberdeen city centre have been listed for sale with a price exceeding seven figures.
Part of The Academy located on Belmont Street – a three-story building transformed into a commercial hub – has been made available for bids starting above £1 million by Shepherd Chartered Surveyors.
Situated in a prime area just off Union Street, the property hosts popular food and beverage establishments like Nando’s and Laila. Collectively, these two units produce a gross rental income of £95,000 annually, with leases extending until 2032. Additionally, the building contains two unoccupied units, presenting further opportunities to enhance revenue.
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Initially built as Aberdeen Academy school, the broader site underwent careful restoration and repurposing in 1998. It now serves as a key component of The Academy, a courtyard-style project that has been a staple of the city’s leisure and hospitality landscape for years.
James Morrison from Shepherd’s Aberdeen office, overseeing the sale, referred to it as a “rare opportunity to secure a prominent city centre asset with a strong tenant base and clear potential for income growth.”
The Nando’s unit features a courtyard seating area and is currently leased for £70,000 annually. Laila’s lease contributes an additional £25,000 each year, with both tenants operating under full repairing and insuring terms according to condition schedules.
