August 2021

Sale of G3, Arrol Road, Dundee.

West Ranga have completed the sale of G3, Wester Gourdie, Dundee to a Joint Venture between JR Capital and Chancerygate for a price of £6,470,000 reflecting a Net Initial Yield of 6.50%.

Purchased with vacant possession in December 2017, the property was extensively refurbished, reconfigured and repositioned in order to meet local market dynamics.

Successful lettings were subsequently completed with Scania (UK) Limited and Grimme generating an annual rent roll of £450,000.

The sale exceeded business plan projections.

Alastair Wright (CBRE) advised on the sale for West Ranga with Richard Mackie (Lismore) advising the purchaser.

Thanks to Steven Thomson (Innes BC) on the PM, Garth Davison (Graham & Sibbald) on lettings and Robert Forman and team (Burges Salmon) on legals.