Ark Estates Grows Portfolio with Alness Acquisitions
Deal News | Jan 28, 2025 | B Daily
Ark Estates, a Highland property investment firm, has successfully expanded its investment portfolio through the acquisition of two notable commercial properties at Teaninich Industrial Estate in Alness. These properties, Ardroy House and Culcraggie House, were purchased from BT, a telecommunications provider. Ark Estates is transforming Ardroy House into high-quality business units, aiming to draw companies from the energy sector due to its proximity to Nigg and Cromarty Firth ports. The acquisition of Culcraggie House ensures the continued operation of Fyrish Gymnastics Club, which had faced insecurity with the property sale by BT. Demonstrating its commitment to the community and sustainability, Ark Estates has offered Fyrish Gymnastics Club a discounted lease and plans to install solar panels on both properties. Managing Director Willie Gray expressed satisfaction with the acquisitions, highlighting the positive impact on community facilities and the increased interest anticipated in the commercial potential of Ardroy House. Lettings for Ardroy House are managed by Graham + Sibbald in Inverness.
Sectors
- Real Estate
- Renewable Energy
- Leisure and Recreation
- Telecommunications
Geography
- United Kingdom – Ark Estates is based in the Highlands of Scotland, UK, and the properties acquired are located in Scotland.
Industry
- Real Estate – The article pertains to property acquisition and investment, indicating its relevance to the Real Estate industry.
- Renewable Energy – Ark Estates’ commitment to upgrading properties with solar panels highlights a connection to the Renewable Energy sector.
- Leisure and Recreation – Fyrish Gymnastics Club's continued use of Culcraggie House touches on the Leisure and Recreation industry.
- Telecommunications – The properties were acquired from BT, a telecommunications provider, linking to the Telecommunications sector.
Financials
- Discounted lease – Ark Estates provided Fyrish Gymnastics Club with a discounted lease for Culcraggie House.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ark Estates | Buyer | Company | Highland property investment firm expanding its portfolio through acquisition. |
| BT | Seller | Company | Telecommunications provider selling properties in the article. |
| Fyrish Gymnastics Club | Tenant | Company | A gymnastics club securing its premises at Culcraggie House. |
| Graham + Sibbald | Letting Agent | Company | Responsible for handling lettings enquiries for Ardroy House. |
| Willie Gray | Managing Director | Person | Managing Director of Ark Estates, commenting on the acquisitions. |