The 4.2-acre site – which comprises six detached office buildings and 149 parking spaces – is currently occupied by a single office tenant.
The site has been granted planning permission for 35 new homes, comprising 15 one-bed units, 13 two-bed units and seven three-bed units.
This case marks Investec’s first deal with Aberdeen Standard Investments.
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“It takes experience and skill to transform spaces like this and we are very confident about the future success of the project, and the possibility of providing further financing as it develops,” said Mark Bladon, co-head of origination at Investec Structured Property Finance.
“Investec has long supported progressive and entrepreneurial schemes and we are pleased to be working with Aberdeen Standard Investments on this latest development.”