The subjects comprise a single storey office/workshop pavilion being constructed by way of a steel portal frame with brick infill walls with the property benefitting from glazing along three elevations. The property also benefits from a roller shutter door to the rear elevation as well as car parking and is allocated 20 spaces directly adjacent to the unit.
Internally the subjects are well presented and the space provides office accommodation with a central core where the wc and tea preparations are found, the plant room is accessed up a steel staircase provided on a first floor mezzanine.
Location
The subjects are situated within the largest West Lothian town of Livingston lying approximately 16 miles west of Edinburgh and 32 miles east of Glasgow on the M8 motorway. Livingston itself is the administrative and commercial hub of West Lothian and its strategic position, has meant that the town benefits from a large commercial centre including the Livingston Designer outlet and retail parks, with over 1.5 million sq ft of retail accommodation which is within easy reach of Bain Square. There are also new gym facilities with Exercise for Less and Pure Gym being within a mile radius of the unit.
The property itself sits within a mature parkland environment within the periphery of the town centre, occupying a site at the end of Bain Square, easily accessible by both car and public transport. Bain Square lies within Kirkton Campus, one of the main office parks within the town.
Accommodation
From measurements that we have been given the floor areas are approximately as follows:
636.06 sq m (6847 sq ft)
Terms
TENURE - We understand the property is currently 100% occupied let to the individual tenant.
Please refer to the brochure for the tenants details.
The passing rent equates to £5.87 which is lower than similar properties in the area, offering a potential for active asset management on the lease renewal in 2 years time. The tenancy is guaranteed by a strong covenant.
PRICE - Offers in excess of £515,000 exclusive are invited for our clients’ heritable interest reflecting a generous net initial yield of 7.49%.
LEGAL COSTS AND REGISTRATION DUES - Each party are responsible for paying their own legal costs however the purchaser will be responsible for any Lands and Buildings Transaction Tax and registration dues.
RATING ASSESSMENT - From reference to the Scottish Association website the subjects are noted to have a rateable value of: £27,800 (Excluding car parking)
ENERGY PERFORMANCE - A Copy of the energy performance certificate is available on request.
VIEWINGS - Strictly by arrangement with the agents
VAT - All prices are exclusive of VAT
ENTRY - Upon completion of legal formalities
Specification
- Single let office premises
- Located within the West Lothian town of Livingston, lying approximately 15 miles west of Edinburgh City Centre
- Excellent transport links with easy access via the M8 motorway both east and west bound.
- Single storey office/workshop pavilion situated within busy Kirkton Campus in single occupation, extending to approximately 636.06 sq m (6847 sq ft)
- Benefits from car parking with allocation of 20 spaces
- Let to Pfeiffer Vacuum Ltd and guaranteed by Pfeiffer GMBH with lease expiry on 18/09/2029
- Passing rent of £40,230
- Offers over £515,000 reflecting a NIY of 7.49%