Lismore advises on £15m acquisition of prime Aberdeen logistics units

The Royal Mail logistics unit in Wellington Circle has been acquired by an overseas buyer

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LISMORE Real Estate Advisors has advised an overseas investor on the purchase of two prime logistics units located in Aberdeen.

The last mile units are strategically situated on a 9-acre site to the south of the city at Wellington Circle extending to 170,000 sq ft.

The two units are let to The Royal Mail Group Limited and DHL Parcel UK Limited, providing lease terms of 11 years and 6 years respectively.

82% of the income is let to The Royal Mail Group Limited who have been in occupation since 1995. Both Royal Mail and DHL have shown commitment to the site recently by removing their 2022 break options.

The purchase price was circa £15 million, with a capital value of circa £89 per sq ft.

Lismore advised the overseas investor, whilst CBRE acted for the vendor.

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