Aberdeen Standard Investments (ASI) has acquired two DPD industrial units for around £20m.
The stand-alone warehouses were purchased from real estate investment company Riverside Capital, which had previously bought the two buildings in separate transactions back in 2016.
Riverside Capital was represented by Galbraith and Levy Real Estate, while Avison Young acted on behalf of ASI.
Located at Badentoy North Industrial Park, Aberdeen, and Network 46 in Swinderby Industrial Estate, Lincoln, the properties comprise of two modern logistic units, both extending to 43,000 square feet, with un-expired terms of 20 years and 15 years respectively.
Geoff Hepburn, deputy fund manager at ASI, said: “We are pleased to have completed these off-market acquisitions, especially as the market this year has been particularly aggressive and competitive.
“Both the quality of the real estate and the tenant function sit very well within our target sectors and offer our client secure income with growth potential.”
Stuart Agnew, managing director at Avison Young in Edinburgh, added: “Both units are in excellent accessible locations ideal for the parcel delivery/logistics sector where there is continuing strong occupational and investor demand.”
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