Aberdeen business parks up for sale for £15m
Wed, 16 Nov 2022 | COMMERCIAL PROPERTY
Two Aberdeen business parks have been put on the market with a price tag of £15 million. Aberdeen Energy Park and Aberdeen Innovation Park comprise thirteen buildings spanning more than 200,000 sq ft on two sites covering over 120 acres.
The long-established, multi-let spaces provide a range of office, laboratory and warehouse facilities designed to host businesses ranging from small and medium-sized enterprises to larger corporate operations.
Current tenants of the business parks include Keenan Recycling, Prospect 13, Aberdeen and Grampian Chamber of Commerce and ICR. In total, the two sites have contracted net rents of £1.48 million per annum.
The parks, which recently underwent a more than £2 million refurbishment, are located in the Bridge of Don to the north of Aberdeen, in close proximity to the city’s international airport. Occupiers benefit from features including dedicated on-site management, 24-hour security and free parking for themselves and visitors.
The sale of the two parks is being handled by property advisory Knight Frank, who said that they offer significant potential for investment, rental growth and improving income profile through expansions, lease renewals and new lettings.
In their listing, Knight Frank said: “Both the Energy and Innovation Parks provide tenants with a variety of accommodation, from serviced offices on short term lets, through high technology workshop facilities to traditional offices."
“The parks have been developed in a number of phases and provide high quality accommodation in a mature landscaped business environment. All of the buildings have recently benefited from over £2 million of expenditure on refurbishing common parts and improving infrastructure.”
“All of the tenants benefit from the same level of dedicated on site management and are encouraged to contribute to the parks’ commercial and social community through joining the programme of networking events organised on the parks.”
One of the best ways to find properties below market price is to look at recent administrations.
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