La Française Real Estate Managers (REM), a real estate asset management firm with over 27 billion euros in assets under management (as at 31/12/2024), has finalized the off-market acquisition, from ABZ Developments, of ABZ Trade Park. The multi-let trade park estate is located on the boundary of Scotland’s Aberdeen International Airport, situated north-west of Aberdeen city centre (approx. 10km).
The newly developed light industrial property which includes 15 units totalling 39,273sq.ft. was delivered in 2020 and forms part of the wider ABZ Business Park; a first-class multi-use Business Park. Offering a wide variety of attractive, modern, high quality serviced office, industrial, hotel and restaurant space, the 70-acre development is home to several energy operator headquarters. ABZ Trade Park offers solid ESG credentials with an Energy Performance Certificate (EPC) rating of A.
The park offers direct connectivity to Aberdeen International Airport, nearby industrial estates as well as Aberdeen’s state-of-the-art events complex, P&J Live. ABZ Trade Park is well serviced by public transport, with regular bus lines to the city centre and is located close to A96 and the AWPR motorway, which encompasses Aberdeen and provides access to Edinburgh, Glasgow and Inverness.
The estate is 100% let to 10 tenants, on leases of between 5 to 10 years, hence providing a diversified income stream.
David Rendall, Head of International Real Estate and Managing Director La Française REM UK, said “Aberdeen has a lack of new quality light industrial units, with much of the existing stock being repurposed units from the 1980’s/90’s. There little to no development pipeline of new stock which is expected to restrict supply. The limited comparable stock should contribute favorably to the long-term value of the estate.”
This acquisition, for a transaction volume of just over £5.4 million, was closed on behalf of a collective real estate investment vehicle. La Française REM was advised by CBRE Group , Lindsay’s on legal and CS2 on technical and environmental due diligence.
