J&E Shepherd Chartered Surveyors has arranged the sale of a substantial industrial facility at Denmore Road, Aberdeen for £2.25 million, reflecting a 7.9% net initial yield.

The subjects are located on Denmore Road within Denmore Industrial Estate, which represents a popular and sought after business location, and comprise a substantial industrial complex offering office and workshop accommodation, together with an associated yard and car parking.

Chris Grinyer, head of Shepherd’s commercial department in Aberdeen, said, “Whilst there are relatively few transactions occurring at the moment, due to the liquidity difficulties in the financial market, this transaction demonstrates deals can still be done. This property offers the investor a quality property in Aberdeen’s industrial sector where a good occupier demand has prevailed for the last few years.”

The 32,000 sq ft premises on the 2.6 acre site incorporate a two storey office building and a workshop. The property is let to Aberdeen Tool Rental on a full repairing and insuring lease with a current passing rent of £250,000pa. The site is held on a ground lease.