LaSalle Investment Management is looking to sell Forbes Place, a 292-home operational build-to-rent asset in Aberdeen, for offers of more than £31m.
The scheme, built and operated by Dandara Living, has a passing income of £3.29m per annum, reflecting a 10.62% gross yield on passing rent. Occupancy is currently at 96%.
It has an estimated rental pricing of £3.62m pa, reflecting reversion of 10.11% relative to passing rent. The £31m guide price reflects a 7.07% net initial yield.
Savills has been appointed to sell the asset.
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