Lismore Real Estate Advisors acted for SCPI Edmond de Rothschild Europa (c/o Edmond de Rothschild REIM) on the acquisition of a modern industrial and office facility at ABZ Business Park, Dyce, Aberdeen, from Ribnort Ltd. The Fund’s first acquisition in Scotland.
The detached asset comprises a modern, high-quality warehouse and office building with a secure yard and 50 car parking spaces currently undergoing an extensive tenant fit-out. The property is strategically located in Dyce, adjacent to Aberdeen International Airport with excellent connectivity via the A96 and AWPR. The property is fully let to Oceanscan Limited on a new 15-year lease, expiring October 2040. The lease provides indexed, upwards-only rent reviews in 2030 and 2035, linked to RPI (2% collar, 4% cap), delivering secure, long-duration income.
Oceanscan specialises in providing subsea and topside non‑destructive testing (NDT) equipment rental and sales, along with specialist offshore personnel supply, serving industries such as oil and gas, renewables, defence, and geotechnical services.
The purchase price of £4.4 million reflects a net initial yield of 7.68%.