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.
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.
