Acquisition in Dundee Technology Park
10th May 2007
The Grianan Building in Dundee Technology Park has been acquired by Edinburgh-based investors Annfield Assets Ltd for £1.625million from Lough Foyle Farm Estates Ltd. Annfield Assets was advised by Ryden in the acquisition, which shows a net initial yield of 7.27% after purchaser’s costs.
The Grianan Building comprises 3 office suites, each providing just over 4,000sq ft of quality accommodation over two floors. Two of the suites are occupied by clinical management systems specialist, InPS (In Practice Systems). The third suite in the building is vacant and being marketed by Ryden following a refurbishment by Annfield Assets Ltd. The vacant suite offers 4,274 sq ft (397 sq m) office space with generous on-site car parking.
Andy Boal, Associate at Ryden in Dundee, said, ‘We are delighted to have advised Annfield Assets in this acquisition and see this as yet another example of investors’ confidence in the Dundee property market and in the city as a centre for business. The vacant suite offers quality accommodation in a popular location and is sure to attract interest from a wide range of occupiers
