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Edinburgh, 18 October 2013 - Highcross has successfully sold Silverburn House in Aberdeen for £17.56million, reflecting a net initial yield of 10.05%.
Silverburn House, is located approximately two miles north of Aberdeen within the Bridge of Don district. The property is currently let to Vetco Gray UK Ltd until 28 October 2018 with the next rent review due in October 2015. The current passing rent reflects a rate of £14.56 sq ft and is subject to fixed increase in 2015.
Vetco Gray UK Ltd have recently refurbished the office accommodation whilst also removing potential lease termination dates due in October 2013 and October 2015.
Jones Lang LaSalle acted for Highcross and Inglis Howie acted for the purchaser.
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