Aberdeen Standard Investments manged UK Commercial Property REIT Limited (UKCM) has sold Hartshead House, a single-let office property in Sheffield, to Arella Property Holding Limited for £17 million reflecting its December book valuation.
The company plans to focus on ‘sectors supported by the long-term structural drivers of the modern economy, including the continued rise of e-commerce and urbanisation, and which are expected to deliver resilient rental income.’
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“This latest disposal is in line with our ongoing strategy to focus our portfolio on modern economy, future fit, property sectors and assets that benefit from structural changes in the way we interact with real estate. We remain a diversified portfolio, strongly weighted to the industrial and logistics market, and continue to look for opportunities to deploy capital,” said Will Fulton, Lead Manager of UKCM at Aberdeen Standard Investments.