Commercial Property News

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Tuesday, February 26, 2024

PPG sells Denmore House in Aberdeen

Premier Property Group has sold Denmore House and the JGB Centre at Woodside Road in Aberdeen to drilling specialist Scomi Oiltools (Europe) Limited for 3.75million.

The property is an industrial and office facility totaling 42,182 sq ft along with a substantial secure yard set on a 3.5 acres site.

Stewart Paterson of PPG comments: "This deal underline's PPG's confidence in the Aberdeen industrial market. We have seen a significant improvement in our initial return; we first acquired the complex in January 2005 for a figure slightly in excess of 2million."

J&E; Shepherd represented Scomi Oiltools.