Real estate investor and fund manager Eskmuir has completed the sale of the MKM Building Supplies industrial unit at Miller Street in Aberdeen for £3.8m to LondonMetric.
The 2.24-acre site located within the harbour area of Aberdeen city centre is fully let to MKM Building Supplies and includes a 17,435 sq ft warehouse, 6,783 sq ft trade counter, 2,532 sq ft of office space, alongside a 59,099 sq ft external yard.
Eskmuir acquired the asset in 2023 and extended the lease to the UK’s largest independent builders’ merchant, MKM Building Supplies, earlier this year.
Eskmuir’s sale of the recently refurbished unit follows the completion of its asset management plan to secure MKM’s future at the location.
Paul Hodgson, Managing Director at Eskmuir, said: “Our sale of the industrial unit at Miller Street follows the completion of our bespoke asset plan where we increased the capital value after securing a long-term lease with an established occupier.
“We received several offers from credible parties but were eager to sell to LondonMetric due to their proven track record and appetite for well-let trade counter assets. The proceeds from this sale will be recycled into additional investments to add to Eskmuir’s diversified UK real estate portfolio, where we are looking to enhance rental income and capital values.”
Ryden acted on behalf of Eskmuir while Lewis Ellis advised LondonMetric.
