Aberdeen’s Caledonian House sells for £7.75m

March 11, 2013 - PRLog -- The Caledonian House in Aberdeen has been sold by Ryden on behalf of The Premier Property Group for £7.75 million, reflecting a net initial yield of 9.10%.

The 55,391 sq ft office and retail property is situated within Aberdeen’s central retail district and was acquired by Ediston Properties.  The office accommodation is currently let to multi-national oil and gas services firm JP Kenny and the retail space to Pret A Manger and British Heart Foundation.  

Ken Shaw, investment partner at Ryden said: “The sale of Caledonian House offered investors a rare opportunity to acquire a mixed use building in Aberdeen city centre and as such generated significant interest in the market. Edisiton Properties was undoubtedly attracted by the building's future refurbishment potential and opportunity to create value."

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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 32 partners and 20 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