Ryden Reels in an Occupier
22 January 2010
Ryden, acting on behalf of Gilcomston Investments Ltd, has let a 1,406 sq m (15,134 sq ft) unit at Raiths Industrial Estate, a speculative new development on Kirkton Drive in Aberdeen, to REEL Group for a 10 year term with tenant option to extend for a further 5 years.
REEL Group, which is part of the Global Energy Group, has taken a lease of the property in order to expand and consolidate their operations into one new build facility.
Russell Ritchie, Managing Director of the REEL Group commented: “We are delighted with these new premises, which are very well suited to our current needs and to the continuing growth of our business.”
Paul Richardson, Associate at letting agents Ryden said: “This transaction highlights that there is still strong demand for quality new build industrial stock in the Aberdeen market, despite challenging economic and market conditions”.
The Raiths Industrial Estates building was completed in April 2009. The property comprises a speculative industrial development built on a site totalling 1.47 acres and is in close proximity to Aberdeen Airport. Gilcomston Investments own two other sites on the estate totalling 1.5 acres and 3.6 acres. They will consider further speculative industrial developments or alternatively, design and build packages are available on either a lease or purchase basis.
Ryden acts for Gilcomston Investments in respect of all matters relating to their property portfolio.