A portfolio of seven modern office buildings in Aberdeen’s Westhill has changed hands in a £10.8 million deal — the latest in a series of major commercial property transactions in the city.
The buildings at Kingshill Park have been acquired by the Hamilton Kelly Investment Partnership (HKIP) in a joint venture with Revcap. The seller was Knight Property Group, the original developer of the sites. Knight Frank acted for the buyer, while Lismore represented the vendor.
Constructed between 2014 and 2020, the high-specification buildings provide a combined 70,000 sq ft of space in one of Aberdeen’s strongest business locations, which continues to record low vacancy rates across both office and industrial properties. Current occupiers include Donaldson Timber Systems, Kraken Robotics and housebuilder CALA.
Recent analysis from Knight Frank shows Aberdeen accounted for nearly a quarter of all investment deals in Scotland during the first half of 2025 — its highest share in years — with investors increasingly recognising the city’s value.
John Rae, capital markets partner at Knight Frank, said: “The acquisition of the assets at Kingshill Park was a great opportunity to secure long-term income from a strong micro-location in Aberdeen. At the same time, with some vacancy in the buildings, potential to add to existing lease terms, and an adjacent consented development site, there is plenty of scope to add value in the longer term, with investor appetite for the Granite City at its highest in years.”
Matt Park, partner at Knight Frank Aberdeen, added: “Westhill remains one of Aberdeen’s best-performing business locations and Kingshill Park, in particular, continues to experience very low vacancy rates across both its office and industrial offerings. Availability for best-in-class space is at low levels and demand for the right stock remains relatively strong, putting Kingshill in a strong position for the future.”