7th March 2014
Investment sale of former MAN Truck warehouse in Aberdeen
Acting on behalf of MAN Truck & Bus UK Ltd, property consultants Alder King have sold the feuhold (freehold) of its former workshop and yard facility at 26 Badentoy Crescent in Aberdeen to a private client of Scottish property consultancy Ryden. The sale achieved a figure of £900,000, representing a yield of 7.35%.
The modern industrial workshop/warehouse on Badentoy Park is let to Specialised Petroleum Manufacturing Ltd, a leading supplier of specialist flow control products to the oil and gas industry, on a lease running till February 2023.
Originally acquired and developed in 2000 to meet the needs of MAN Truck & Bus, the property sits on a prominent corner site on Badentoy Park, a modern and well-presented industrial park in Portlethen, nine miles south of Aberdeen, where many of the occupiers are directly connected to the oil industry. It provides a total of 7,898 sq ft of workshop, office and storage space on a 1.63 acre site and includes generous parking and yard areas.
Alison Williams, associate at Alder King’s Swindon office, says: “This was a prime investment opportunity due to the property’s location in a prosperous industrial area. It is let to a well-established tenant and generates a secure income stream.”