New Pre-let Investment Sale at Westpark, Aberdeen
FG Burnett are delighted to be marketing a new investment opportunity on the Westpark development at Blackburn, immediately adjacent to the new Archer HQ, which was funded by BP Pension Fund.
Westpark has secured a pre-let to Reservoir Group Ltd, who trade as ALS Oil and Gas and are part of ALS, an Australian group with over 13,000 employees in 55 countries.
The lease is for 15 years at an initial rent of £195,000 per annum, with rent reviews to the higher of open market rental value or 2% per annum compounded.
The unit is under construction, with completion scheduled for March 2015.
David MacLeod of FG Burnett is handling the sale, “ This opportunity offers a very good covenant, long income with fixed uplifts at review, in a location which is in close proximity to Dyce and Aberdeen Airport. We are seeking offers over £2.54 Million exclusive of VAT, which reflects a very attractive yield of 7.25%. This investment will appeal to a variety of investors. “