St Magnus House, Aberdeen Sold

July 4, 2012 - PRLog -- The Apia Regional Office Fund Partnership, managed by Aviva Investors, has sold St Magnus House, Guild Street, Aberdeen to British Airways Pension Fund for £18,300,000 reflecting a net initial yield of 8.66%.

St Magnus House was built in the mid 1980's and provides 81,000 sq ft of refurbished office accommodation. The building is presently let to CNR International (UK) Ltd, a Canadian oil company, at a passing rent of £1,676,047 per annum until May 2020, incorporating a tenant break option in 2016.

Ryden's Aberdeen office acted for Apia and CBRE / Stainton provided advice to the purchaser.

For property investment advice or to search for investment opportunities visit: http://www.ryden.co.uk/Investment/

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Notes to Editors

Ryden is an independent commercial property firm operating a full-service practice.  Service lines include Agency & Development, Investment & Finance, Professional, Building Consultancy, Property Management and Consulting.

The firm is headed by Fiona Morton, Chairman and has around 140 people, including 31 partners and 23 associates.

Ryden has offices in Edinburgh, Glasgow, Aberdeen, Leeds, Dundee and Inverness.  

Awards include:
•   EGi’s Most Active Agent in Scotland 2011
•   EGi’s Most Active Industrial Agent in Scotland 2011
•   EGi’s Most Active Office Agent in Scotland 2011
•   CoStar’s No.1 Edinburgh & Glasgow Office Agent by No. of Disposals 2011
•   CoStar’s No.1 Scotland Industrial Agent 2011
•   Property Week’s Industrial Agency Team of the Year (Scotland) 2009


For more information see http://www.ryden.co.uk