10 October 2016, London: Aprirose, the real estate investment company, has purchased Stephenson House, for £9 million from a group of private investors.
Stephenson House is a 69,575 sq ft modern warehouse and office located in Hamilton International Park. It is let to Babcock Rail Limited, the UK’s largest plain line track renewals company. The warehouse is Babcock’s only Scottish training facility, with their headquarters also located on the park.
Hamilton International Park is a 116 acre site with circa 1.3 million sq ft of commercial space, home to over 80 different companies including John Lewis, HSBC and Scottish Power.
The acquisition of the Babcock rail training site is Aprirose’s fourth acquisition in Scotland in the past ten months. The company owns a further eight properties across Scotland.
Manish Gudka, Chief Executive Officer at Aprirose, said: “Babcock’s training facility provides a unique investment in Glasgow, within Hamilton International Park, with a secure tenant. This transaction is our eighth since the Brexit vote and fits in with our strategy of buying high quality assets to add to our £1 billion property portfolio. We are continuing to work on a number of deals as we continue to look for investment opportunities in Scotland and across the UK.”
The property is located next to the planned relocation site for the University of Scotland campus, and sits two miles from Hamilton, with good transport links to Glasgow and Edinburgh.
Dougray Smith advised Aprirose on the acquisition. CBRE and hendersonherd were the joint selling agents.