The estate comprises a development of 7 industrial units built in two blocks within a site extending to approximately 3.15 acres (1.275 Ha). The units are of steel portal frame construction with walls clad externally in profile metal sheeting.
The eaves height of each unit is approx 6.75 metres. The terraced block housing Units A1-A3 has been extensively refurbished, including a full roof replacement, external respray of the cladding and blockwork, refurbishment of the roller shutter doors and a comprehensive internal upgrade throughout each unit. Unit A3 is currently vacant and on the market and provides an immediate asset management angle for the Landlord.
The terraced block housing Units B1-B4 has not been refurbished given the long-term occupation of the tenants in situ. This provides an asset management angle for a Landlord in the future.
Location
The property is located within Kirkhill Industrial Estate, one of Aberdeen’s premier industrial locations situated in the Dyce area, approximately 6 miles north-west of Aberdeen City Centre. It is a long established and popular location for many of the national and international energy companies within the city
. The property is located in a prominent position on the east side of Howe Moss Drive and overlooks Dyce Drive, the main arterial road through Kirkhill. Aberdeen International Airport and heliport are located nearby. Kirkhill Industrial Estate benefits from excellent transport links and is easily accessible by road via the A96 and has easy access to the Aberdeen Western Peripheral Route (AWPR) for connections north and south. Dyce is also served by a railway station.
Accommodation
The development consists of 7 industrial units with a total gross internal floor area of approximately 4,929 sq m / 53,056 sq ft. The breakdown of the floor areas for each individual unit is set out within the schedule below
Terms
SERVICE CHARGE Under the terms of the leases, the landlord is responsible for the management and repair/ maintenance of the common parts of the property. A service charge regime is in place and the costs are allocated to the tenants on a pro-rata basis. Further details upon request.
ENERGY PERFORMANCE CERTIFICATE (EPC) The property benefits from the following EPC Ratings: Unit A1 - A Unit A2 - A Unit A3 - A Unit B1 - A Unit B2 - B Unit B3 - A Unit B4 - A VAT The property has been elected for VAT and it is anticipated the sale will be treated as a Transfer of a Going Concern.
DATA ROOM A data room has been set up to provide access to the legal documentation. Further details upon request.
ANTI-MONEY LAUNDERING REGULATIONS To comply with the current anti-money laundering regulations the agents acting on both sides of any qualifying transaction are required to undertake appropriate due diligence in advance of the transaction, including identifying and verifying all relevant parties and establishing the source(s) and legitimacy of funding. Both parties will be required to disclose all relevant information prior to conclusion of missives required to enable the agents to meet their respective obligations under the Regulations.
PROPOSAL Offers over £3,165,000 excluding VAT are sought for our client’s heritable interest in the estate. A purchase at this level would show an attractive net initial yield of 12.51% based on the topped up rent after deduction of purchaser’s costs and LBTT. Any unexpired initial rent concessions shall be deducted from the purchase price at settlement.
Specification
- Multi-let industrial estate with asset management potential.
- Diverse tenant mix.
- Located within Dyce, Aberdeen’s premier industrial location.
- Attractive WAULT of 4.5 years to expiries.
- 4.5 Total accommodation comprises 4,929 sq m / 53,056 sq ft.