UK-based property management company Lotus Property has purchased a 1.3 million square feet property portfolio in Scotland valued at 60 million pounds ($78.6 million).

The portfolio, made up of 45 properties in total, is predominantly located in Dundee and includes key assets in Marketgait/West Marketgait, Wester Gourdie Industrial Estate and Dunsinane Industrial Estate.

More than half of the assets are industrial, with a variety of mixed-use, retail, leisure and residential also forming part of the acquisition.

Lotus Property said that the composition of the portfolio is very similar to that which it owns in Northern Ireland, and coupled with the positive historical experience, market intelligence and network it has in Scotland, this first investment in Dundee is a great platform to build on.