Arella Property has acquired a £17m (€20m) office asset from a listed UK commercial property firm, managed and advised by Aberdeen Standard Investments.

UK Commercial Property REIT (UKCM), which owns a diversified portfolio of income-producing commercial property, said it has sold Hartshead House, a single-let office investment in Sheffield.

According to UKCM, the disposal amount reflects the asset’s December book valuation.

Will Fulton, lead manager of UKCM at Aberdeen Standard Investments, said: “This latest disposal is in line with our ongoing strategy to focus our portfolio on modern economy, future-fit, property sectors and assets that benefit from structural changes in the way we interact with real estate.

“We remain a diversified portfolio, strongly weighted to the industrial and logistics market, and continue to look for opportunities to deploy capital”

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