MOORFIELDS ADVISORY COMPLETE SALE OF PROMINENT ABERDEEN DEVELOPMENT IN £11M DEAL
Moorfields, acting as administrators, have successfully sold City Wharf in Aberdeen for £11 million
The 66,045 sq.ft. city centre development has a mix of retail and leisure accommodation with Grade A office space on the upper floors. In addition the development has a 386 space car park and 23,268 sq.ft casino let to Grosvenor.
Marketed by Knight Frank the development has been sold to Hamcap (Aberdeen) Ltd, part of commercial property consultancy HKIP’s latest high yielding fund, HYIF 3.
In February 2017, Moorfields successfully sold part of the development comprising the ibis hotel and Pure Gym for £8m.
Moorfields are now seeking planning permission to change the remaining element of the development, Exchequer House, from offices to residential accommodation.
Arron Kendall, Joint Administrator at Moorfields said “We are delighted with the successful outcome. The development offers a good retail and leisure opportunity for the right investor.
We hope we can also be in a position later this year to market Exchequer House with its new planning permission which should prove to be another good opportunity”
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