A Scottish property company has acquired a city centre landmark as the "jewel" in its largest deal to date.

The firm has bought an iconic nineteenth-century building known for its "fairytale castle" appearance.

REAL Property Scotland said it is "proud to announce its largest acquisition to date: a portfolio of 100 residential units, valued at £12 million, in the heart of Aberdeen".

It said it "marks a significant milestone in the company’s continued growth within Scotland’s real estate market".


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A considerable portion of this portfolio is located in the Citadel, "one of Aberdeen’s most iconic buildings", built to the design of James Souttar between 1893 and 1896.

Known for its architectural heritage and prominent position in the city, the Citadel acquisition "underscores REAL Property Scotland’s commitment to investing in prestigious and valuable assets throughout Scotland", it said.

The Citadel at nightThe Citadel at night (Image: Getty Images) "This is a monumental moment for us," said Conar Tracey, director of REAL Property Scotland.

"The acquisition not only strengthens our presence in Aberdeen but also represents our strategic vision of expanding our portfolio with high-quality properties in key locations. The Citadel, in particular, is a jewel in this acquisition, blending historic charm with modern potential."

The firm added: "This acquisition cements REAL Property Scotland’s reputation as a leading force in Scotland’s property investment sector, with further growth and development planned for the near future."

Formerly known as Real Estate Wealth Development (REWD) Group, REAL Property Scotland has built up a residential buy-to-let portfolio of over 350 properties across Scotland, with a £24.5 million asset value and a gross monthly rent roll of over £100,000.