Mason Philips - Industrial Sale - Aberdeen, Blackness Road, Altens Industrial Estate

Date: 04 Jul 2008

A private investor, advised by Mason Philips, has bought a second industrial facility on Blackness Road, Altens Industrial Estate, Aberdeen for £4.45 million from PRUPIM on behalf of one of its clients funds. The deal follows the purchase of a sale and lease back from Sparrows Offshore Services last autumn.

The 57,971 sq ft (5,387 sq m) industrial building is occupied by Oil States Industries UK Ltd on a lease expiring in December 2014 at a rent of £318,000 pa. The purchase reflects a net initial yield of 6.75% and a reversionary yield of 8.76%.

The vendor was advised by Ryden.

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