Office deal

Aberdeen’s Annan House sold below asking price

New owner: Annan House

An Israeli investor has acquired Annan House in Aberdeen, one of the city’s biggest office developments, for £32 million, lower than the expected sale price.

German investment firm Patrazia had put a £42m price tag on the eight-storey building whose main occupant is oil and gas firm Enquest for whom it was built by Drum Property Group in 2015.

It was part of a £100m project to redevelop the Aberdeen Seafood park into an area now known as the North Dee Business Quarter.

The property was acquired by Rockspring Property Investment Managers in the same year for a price in the region of £45.1m. German investment firm Patrizia acquired the London-based Rockspring in 2017.

New Glasgow tenants

Regional REIT has signed two new tenants at Lightyear, an office it owns close to Glasgow Airport.

Heathrow Airport has taken 15,121 sq ft on a 15-year lease, while Rolls-Royce has leased 15,116 sq ft for 10 years. 

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