Statoil Investment Sale at Prime Four
FG Burnett are delighted to have been involved in another investment sale for Drum Property Group at Prime Four Business Park in Aberdeen.
Golden Globe Merchants has bought Statoil House for £18.7m, a net initial yield of 6.17%.
The 45,797 sq.ft office is let to Statoil (UK) Ltd until 31st March 2032, with an annual rent of £1,225,069.75 per annum and guaranteed rental growth through fixed rental uplifts of 2.5% compounded in October 2020, 2025 and 2030. BNP Paribas Real Estate UK represented Golden Globe Merchants and JLL, Ryden and FG Burnett acted on behalf of Drum Property Group.
Dave MacLeod of FG Burnett said “This is yet another example of Prime Four’s attraction to the international investment community – a world class Business Park and a world class tenant provided a compelling opportunity. It is extremely encouraging to see the depth of demand for this quality of product in Aberdeen.”