Fund manager snaps up several properties
Highcross has bought seven Scottish properties in a £20.3 million deal.
The office and industrial sites, totalling 350,000 square feet, are part of the Ben Cleuch portfolio and have been sold by Bonntoun Estates.
Five of the properties are in Aberdeen with one each in Aberdeen and Glasgow.
Mark Evans, who leads Highcross Scottish team, said: "Highcrossis building a strong portfolio of office and industrial schemes in keylocations in Aberdeen, Glasgow and Edinburgh.
"These latestacquisitions, all of which are in established business and industrialareas, offered an attractive opportunity to add significant value,through re-gearing, implementing rent reviews, and letting vacantspace."
Highcross was advised by Tom Fulton of Colliers in Glasgow while Bonnytoun Estates was represented by Simon Cusiter of Jones Lang Lasalle in Edinburgh.
Bonnytoun Estates, set up in 2001, was a property investment joint venture between Scott Cairns and Bank of Scotland.
Cairns was previously managing director of the stock market listed Scottish Metropolitan Property until it was sold in 2000.