Aberdeen retail park hits market with £3m price tag
A retail park in Aberdeen has been placed on the market with a price tag of £3m.
Located at the intersection of the A90 and A96, Haudagain Retail Park comprises four units including two drive-throughs and two retail units, alongside a 76-space car park.
Tenants at the scheme include American Golf, Pets&Care, KFC, and Taco Bell.
Haudagain Retail Park has a gross internal area of 10,989 sq ft and produces an annual rental income of £242,000. Pets&Care, KFC, and Taco Bell are all subject to five-yearly rent reviews.
The site also has potential for further drive-through and drive-to development.
Aberdeen-based agency FG Burnett – which has been appointed to find a suitable buyer for the scheme – said the asking price of £3m represents a net initial yield of 7.58%.
The retail park was previously owned Rhino Investment Management before being sold to a private Northern Irish property company in 2017 for £2.7m.