Catella APAM sells Aberdeen Industrial Let To Biffa

Catella APAM (“APAM”), the specialist UK real estate asset manager, is delighted to announce that on behalf of Leto Ltd it has completed the sale of Redmoss Business Centre, Aberdeen to LXi REIT Plc for £3,960,000, reflecting a net initial yield of 6.35%. The property, let to Biffa Ltd until 2035, acted as a waste transfer station serving the Aberdeen area.

Ben Dickins, Senior Asset Manager at APAM commented: “The sale represents a timely exit given the current strong demand for both industrial property and long income.”

Knight Frank acted for Leto Ltd/Catella APAM. Prime Alternative Property acted for LXI REIT PLC.

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