Project Description

Cedarwood have completed the purchase of Wellington Business Park, Altens and Whitemyers Industrial Estate Aberdeen from Robertsons Construction. The properties have been purchased through a joint venture backed by a consortium of private investors. The estates provide very attractive initial cash on cash returns of over 17% for the first 3 years with over 9% in years 4&5, without allowing for any asset management initiatives. Both schemes show projected IRR’s of between 16-20%.

The estates comprise a total of 38,752 sqft of industrial space in 24 units and a small office building. Cedarwood are asset managing the properties on behalf of the joint venture.