Prupim have bought a development in Westhill, Aberdeen, the largest commercial development sale in Aberdeen for around two years.
They paid £36 million for the development, reflecting a net initial yield of 7.1%. The development was completed in October 2008, and is currently the headquarters for construction and engineering company Acergy UK, who have a 20 year lease on the site.
Stewart Milne Developments sold the site to Prupim and were represented by Ryden, whilst Lewis Ellis represented Prupim. (more…)