Warner Estate Holdings and Morley Fund Management have announced the acquisition of St Magnus House in Aberdeen on behalf of the Apia Regional Office Fund from Stainton Capital for £23.7 mln (EUR 35 mln). The transaction reflects a net initial yield of 5.6%, increasing to 5.88% on completion of a newly created car space letting. St Magnus House is a city centre building overlooking Aberdeen Harbour and provides 80,180 square feet (7,449 m2) of refurbished office space over six floors. There are 129 parking spaces.
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