34 Carron Place comprise a semi-detached industrial unit with secure surfaced yard. The majority of the accommodation is found within the main warehouse which is constructed around a steel portal frame, infilled with cavity brick walls with a painted finish to the inside and roughcast finish to the outside. To the front of the property is an office section which is arranged over ground and first floors. The majority of the office accommodation on both floors comprises of a series of large open plan rooms with dedicated staff toilets found on each floor together with staff welfare facilities on the ground floor. Internally the floors are concrete throughout.
Vehicular access is obtained via the yard to the rear of the property where there are two full height loading doors; one roller shutter and the other a sliding concertina style door. Two pedestrian doors are found on either side of the rear elevation. The yard is accessed via the rear service road and is fully enclosed with a palisade fence and steel palisade gates and is surfaced with tarmacadam.
( Agency Pilot Software ref: 50622 )
Location
34 Carron Place is situated within the popular and prominent Kelvin Industrial Estate in East Kilbride, benefitting from convenient access to both the M8 and M74 motorways. The estate is located approximately 1.5 miles south-east of the town centre and 12 miles south of Glasgow City Centre
Accommodation
TOTAL 1,239.89 sq ft
Terms
VAT Unless otherwise stated all figures, prices, etc, are quoted exclusive of VAT. The property has been elected to VAT.
LEGAL COSTS Each party will bear their own legal costs in respect of any transaction of this site, however for the avoidance of doubt the purchaser will be responsible for LBTT, Extract copies and VAT thereon.
LEASE TERMS While the Tenant has been in occupation since 2013, they have recently extended their occupation to 2033 at a new rent of £63,479 representing a low annual rent of £4.75/sq.ft. The lease allows for 5 yearly upward only Rent Reviews with the next occurring on 1st April 2027. The Tenant has a Tenant only Break Option on the 1st of April 2027. The Tenant extended their lease prior to the original expiry in 2023.
PROPOSAL O ers in excess of £695,000 are sought, reflecting a Net Initial Yield of 8.69% assuming standard purchasers costs of 5.15%. This equates to a low capital value of just £52/sq.ft.
Specification
- Rare Industrial Investment
- Single Let to Diversey Limited
- Lease recently extended to 2033
- New Rent £63,479 per annum from 1st April 2023
- Offers Over £695,000 (NIY 8.69%)
- Equating to a Low Capital Rate of £52/sq.ft