Construction News

02/03/2011

Shepherd Seals Diamond Deal

Acting on behalf of Diamond Envelopes, Shepherd Chartered Surveyors has sold the direct mail and full service envelope manufacturer’s former premises on Wellheads Terrace, Dyce, Aberdeen for £6.7 million to property fund manager Highcross.

The property, which comprises of substantial high bay industrial distributes premises extending to over 100,000 sq ft with the benefit of a substantial secure yard, is currently part let to oil and gas supplier Petrowell on a new 10 year lease and the deal reflects a net initial yield of 9%.

-- Advertisement --

Chris Grinyer, managing partner at Shepherd in Aberdeen, said: “This sizeable sale relates to one of the largest industrial buildings sold in Aberdeen over recent years.

“Having previously secured the letting to Petrowell on behalf of Diamond Envelopes, we are delighted to have subsequently concluded this sale to Highcross of such a well specified unit in close proximity to Aberdeen International Airport.”

Savills acted on behalf of Highcross.

(GK)

News Archive

Latest Construction News

29/04/2025

New Key Worker Homes To Be Delivered On Skye

Albyn Housing Society, a major social housing provider operating across the Highlands, is expanding its portfolio to the Isle of Skye for the first time. The society, which manages almost 3,900 properties across 80 rural communities on the mainland, will soon hand over seven new affordable homes i

29/04/2025

Report Highlights Cost Differences In Electrici...

As SP Energy Networks progresses with its ambitious £10.6 billion investment plan (RIIO-T3) to upgrade Central and Southern Scotland's electricity transmission network between 2026 and 2031, a new independent report has shed light on the costs and characteristics of various transmission technologies

29/04/2025

Fife Apprentice Reaches UK Final Of Top Decorat...

Casey Gardner, a 19-year-old apprentice painter and decorator from Fife, is set to represent Scotland in the national final of the prestigious 2025 PDA Premier Trophy Awards – Apprentice of the Year Competition. Ms Gardner secured her place after a successful performance in the Regional Heat held

29/04/2025

ScottishPower Chief Executive Named Business Le...

Keith Anderson, Chief Executive of ScottishPower, has been named Business Leader of the Year at an awards ceremony held at the EICC in Edinburgh. Mr Anderson was chosen from a shortlist of eight company leaders, including representatives from The Ivy Collection, Greggs, Cazenove Capital, and the Mur

29/04/2025

Green Light For Major Salmon Farm Development A...

Significant progress has been made this week on major development plans for the strategically important Hunterston site in North Ayrshire. Members of the council's Planning Committee approved proposals for the creation of a salmon rearing facility at the location. The applicants, Bakkafrost Scotl

29/04/2025

Innerleithen Play Park Major Upgrade Completed

The local community in Innerleithen, including pupils from St Ronan's Primary School and local councillors have celebrated the official reopening of the village's play park following significant improvement works. The much-anticipated upgrades to the facility include extensive drainage work and the

29/04/2025

Craigtoun Park's Dutch Village Set For Facelift

Craigtoun Country Park, a popular destination near St Andrews, is poised to see a significant upgrade to its beloved Dutch Village situated on the boating lake. The structure is set to undergo essential repairs, including new rendering and roof tiles, thanks to newly secured funding. Fife Council h

29/04/2025

£1.5m Funding Boost For New Kirkton Community C...

Residents of the Kirkton area of Dundee are a step closer to a new community centre following the allocation of £1.5 million in funding. The money has been awarded to local charity Kirkton Community Centre SCIO through the UK Government's Community Regeneration Partnership (CRP). The funding will e

29/04/2025

SGN Wins Four Gold Awards For Customer Service ...

Gas network operator SGN has been lauded for its exceptional commitment to customer service, securing four prestigious gold awards at the CCA Global Excellence Awards 2025 ceremony held in Glasgow last night. The accolades affirm SGN's position as industry leaders in customer care and innovation. T

29/04/2025

Highlands And Islands Unveil Ambitious Ten-Year...

A collaborative effort involving public, private, and academic organisations has culminated in the launch of a ten-year strategy aimed at fostering sustainable economic growth across the Highlands and Islands. The Highlands and Islands Regional Economic Partnership (HIREP) has unveiled its Regional