Ensco House, Site C2
Gateway Business Park , Aberdeen , AB12 3GA
£7,000,000.00
Ref No. 8198
For Sale

Location Gateway Business Park , Gateway Crescent, Aberdeen, AB12 3GA, Aberdeenshire, , Scotland

Size 25802.00 ft2
(2397.08 m2)

Description Prime Long Income Office Investment Opportunity

Investment Summary

  • Opportunity to purchase a prime, long let HQ office investment, located within one of Aberdeen's strongest performing Business Parks;
  • The park's strategic importance is highlighted by the high level of pre-letting activity over the years;
  • The property provides a modern HQ office extending to 2,397.07 sq m, (25,802 sq ft) benefitting from 96 car spaces providing an excellent parking ratio of 1:25 sq m (1:269 sq ft);
  • Let in its entirety to Ensco Services Limited (D&B 3A2) with a guarantee from Ensco Plc (D&B 5A1) on FRI terms until 7 July 2029;
  • Current rental of £506,250 per annum reflecting a low passing level of £213.64 per sq m (£19.85 per sq ft);
  • The lease incorporates provision of 5 yearly fixed rental uplifts of 2.75% per annum compounded with the next rent review due as at 8 July 2019.

Offers in excess of £7,000,000 (Seven Million Pounds Sterling) are sought for our client's Heritable interest (Scottish equivalent of English Freehold), subject to contract and exclusive of VAT.

A purchase at this level would provide the following yield profile after purchaser's costs at 6.16%:

Net Initial Yield of 6.81%

Reversionary Yield as at July 2019 of 7.80%

Reversionary Yield as at July 2024 of 8.94%

Property Type Office

Initial Yield 6.81%

Property Contacts:

  • Janey Douglas
  • Simon Cusiter +44 (0)131 243 2203
Property Location:



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a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
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