HKIP, a Glasgow-based property company with a strong track record in UK-wide investment and asset management, partnered with Revcap, a European private equity real estate firm known for backing regional growth opportunities. The Property Team was led by Kelsey Gibson and supported by Mark Colquhoun and Amie Brown, Banking by Lisa Marijuan and Hannah Ward (acting for the borrower in agreeing the loan package with Santander) and Construction by Jonny Seddon and Caroline Earnshaw.
MFMac provided strategic legal support throughout the acquisition of seven modern office buildings in Kingshill Park for £10.8 million: delivering property and construction due diligence, lease review, banking and risk assessment to help the joint venture secure long-term income and mitigate exposure. The transaction showcases MFMac’s deep expertise in commercial real estate law and its role as a trusted adviser in complex, high-value deals.
The deal marks a strategic investment in one of the Granite City’s most resilient business locations, with consistently low vacancy rates and strong tenant demand.
The opportunity
Constructed between 2014 and 2020 by Knight Property Group, the buildings span 70,000 sq ft and are occupied by high-profile tenants including Donaldson Timber Systems, Kraken Robotics and Cala Homes. The site benefits from proximity to the Aberdeen Western Peripheral Route and is recognised for its high-specification office and industrial space.
Market context
Aberdeen’s share of Scottish commercial property investment rose to 24% in the first half of 2025 – its highest in years – according to Knight Frank’s analysis of Real Capital Analytics data. This compares to a five-year average of just 13%, with only Glasgow recording more transactions in the same period.
Investor sentiment is shifting, with buyer and seller expectations aligning more closely.
As noted by Knight Frank’s John Rae, “There is plenty of scope to add value in the longer term, with investor appetite for the Granite City at its highest in years” (The Scotsman, 2025).
Strategic outcome
The acquisition positions HKIP and Revcap to benefit from:
- Secure rental income from established occupiers
- Upside potential through lease extensions and adjacent development
- Market timing aligned with Aberdeen’s transitional growth phase
Matt Park of Knight Frank Aberdeen commented:
“Kingshill Park continues to experience very low vacancy rates… putting it in a strong position for the future” (Daily Business, 2025).
Conclusion
This transaction underscores Aberdeen’s resurgence as a commercial investment hub and highlights the importance of strategic legal support in navigating complex property deals.
Sources:
Reid, S. (2025). Aberdeen on the rise as £11m property deal boosts city’s fortunes. The Scotsman.
Murden, T. (2025). £10.8m offices deal signals Aberdeen recovery. Daily Business.
Aberdeen office portfolio sold in £10.8m deal. Scottish Construction Now.
Walker, P.A. (2025). Aberdeen office portfolio sold for £10.8 million. Business Insider.
Hamilton, L. (2025). Westhill office buildings deal tops £10 million. Press and Journal.
