Ryden Completes a Convenience Store Investment Transaction in Aberdeen
01 July 2020
Acting on behalf of Wulstan Capital, Ryden has announced the recent completion of a convenience store investment transaction in Aberdeen. Wulstan Capital has acquired the Stoneywood Co-op in the city from Dandara during lockdown at the price originally offered - £1.25m, reflecting a net initial yield of 6.44%.
Ken Shaw, Investment Partner at Ryden's Aberdeen office, commented on this transaction:
"Our client was attracted to the unexpired term of 10 years from an established food retailer which provides secure income at a time when there is uncertainty in the market.
"The location fundamentals are also strong with the store situated adjacent to a new housing development and within two miles of Aberdeen International Airport."
Ryden acted on behalf of Wulstan Capital in this deal whilst Knight Frank in Aberdeen advised the vendor. Pinsent Masons and Burness Paull carried out the legal work.
