The property was in fact one of the many Templeton Carpet complexes constructed throughout the East End of the City. The building comprising a substantial 4 storey fully upgraded office complex together with a range of single storey warehouse/ workshop units.
Location
Abercromby Business Centre is a landmark building located on the east side of Abercromby Street at the junction with Dornoch Street. The complex lies a short distance to the north of London Road and approximately half a mile from Glasgow Cross and Glasgow City Centre. Glasgow is the commercial/industrial hub of Scotland with a population of approximately 650,000 and a catchment in excess of 1.5 million.
Abercromby Business Centre is located within an improving and strategically well located position lying virtually midway between the M8 motorway to the north and the M74 to the south with the new Glasgow East End Regeneration route lying immediately to the east. The building/complex dominates the surrounding area however the immediately surrounding occupiers include the Bridgeton Medical Centre, The Triple Two Public House, Lloyds Pharmacy together with the original Templeton “Doges Palace” Business Centre and complex immediately to the south.
Accommodation
The accommodation comprises a mixture of 88 units providing offices, workshops and studio accommodation. The offices have been upgraded to an excellent standard incorporating passenger and service lifts to all floors, double glazing, Category 1 lighting together with 24 hour security and secure access. The workshops provide a variety of floor areas and layouts and in addition there are conference facilities, on site café and communal tea/coffee bar. There is yard space and parking available for the complex to the rear of the building.
Terms
Income
The complex currently produces an income of £XXX per annum and details of tenants, leases, floor areas and rents are all shown in the accompanying schedule. There is potential to improve the income to a projected figure of approximately £XXX
Energy Performance Certificate
A copy of the EPC will be provided upon application.
Price
Offers over £XXX million are invited, producing an initial yield of 10% increasing to 16.4% upon full occupancy. We have allowed for normal purchasers costs.
Legal Costs
Each party will be responsible for their own legal costs and outlays including VAT incurred.
VAT
All prices, rents, premiums etc. are quoted exclusive of VAT. Interested parties must satisfy themselves as to the instance of VAT in respect of any transaction.
Date of Entry
By arrangement.
Specification
· 72,000 sq. ft. /16,690 sq. m. Business Centre
· 88 units
· 80% occupied
· Existing rent £XXX per annum
· Projected rent £XXX per annum