Deal of the Year 2024 I Scottish Property Awards Announced!
The PMP Deal of the Year at the 2024 Scottish Property Awards is out!
The finalists in the 2024 Scottish Property Awards Deal of the Year are:
- 1-4 Wellheads Avenue, Stoneywood, Aberdeen. (Savills, Knight Frank, JLL, DLA, CMS)
This 5-year extension of the lease to BP followed a request to leave and secured the future of the 192,837sq ft office and annual rent of £3.2m. Ultimately assisting in the sale of the building now underway.
- Lucent, 50 Bothwell Street Glasgow. Letting to Pinsent Masons (Orion Capital, Resonance Capital, Knight Frank, Ryden, CBRE)
This 27,000 sq ft 15-year lease has set a new benchmark rental for the city and takes out over a third of the building. It recognises the market leading nature of the scheme and the character of the upper floors.
- Ardersier Port, Inverness. Investment of £300m from Quantum Energy Partners to create an offshore wind and energy transition facility. (Haventus, Quantum, Brodies)
This investment comes almost 10 years after the acquisition of the site and the results will create a nationally significant energy facility to transfer wind power to electricity.
- Ruby Hotel, Princes Street, Edinburgh. A £100m investment in new hotel development, the first in Scotland. (Ruby Hotels, Hunter REIM, Orinsen, Brodies, Sheridan Keane Real Estate Investment)
The announcement of planning permission in October 2023 sealed the deal on this investment, the biggest in Princes Street since Johnnie Walker. The seven-floor development comes with 300 bedrooms and a roof top bar.
With just over 3 weeks until the big celebration in Scottish commercial real estate, these four deals were selected by the judging panel. The winner will be decided by the judging panel and announced at the awards ceremony on Thursday 29 February in Glasgow.
Stewart Rutherford, Managing Director of PMP, commented;
“Congratulations to all the finalist teams behind these major transactions completed in the last year. It is rewarding to see all corners of Scotland represented with a wide range of deal types. We look forward to celebrating all their success in Glasgow in a few weeks’ time. These are some of the biggest deals conducted in Scotland and showing the strength of investment despite navigating some more difficult times in 2023 within property. The awards highlight that Scotland continues to welcome deals of substance and seeing investment in development and energy presented in the shortlist is encouraging in our diverse property market.”
Individual tickets to the 2024 Scottish Property Awards are still available and can be purchased https://www.scottishpropertyawards.co.uk/spa/book-tickets
