The subjects comprise of a detached industrial unit with yard which is of a steel portal frame construction with a pitched insulated roof incorporating translucent roof panels which was replaced by the tenant in 2021. The walls to the front office section are brickwork with the workshops being rendered blockwork to dado height and clad thereafter. Internally, the property is laid out to provide a reception, offices and staff facilities at ground and first floor at the front of the building with the rear being utilised as workshops. The reception and office areas have a mixture of vinyl and carpet finishes with the walls being plasterboard and a suspended tile ceiling incorporating light fittings. Natural light is provided by way of a number of double glazed units which are a mixture of aluminium and PVC.
The workshop has a concrete floor with the walls and ceilings to the inside face of the cladding and blockwork. Lighting is provided by way of high bay LED fitments. A number of inspection pits have been installed with there being 7 up and over access doors measuring approx. 5M wide by 4.88M. The eaves height is 5.12M. Externally, there is a yard, bounded by a palisade fence which has been laid in a mixture of concrete and hardcore with car parking to the front of the unit providing 17 spaces.
Location
The property is situated within Aberdeen, Scotland’s third largest City with a population in excess of 220,000 people within the Altens Industrial Estate which is situated approximately 2 miles south of Aberdeen City Centre.
Accommodation
1,241.66sqm (13,365sqft)
Yard : 3,147sqm (33,874sqft)
Terms
Lease Terms The subjects are currently let to Scania (Great Britain) Limited (00831017) expiring 31st January 2030 on full repairing and insuring terms. The current passing rental is £137,XXXa. The rent shall be reduced for 1 year from 1st February 2025 to £114,XXXa and the landlord will top up the rent for this year. There is a tenant only break option on 1st February 2028 and if the break option is not exercised, the rent shall reduce for 1 year to £125,XXXa.
Price Offers in excess of £675,000 are invited which reflects a net initial yield of 12.60% after allowing for purchasers costs and deducting ground lease payments.
The subjects are held by way of a ground lease at a passing rental of £47,XXXa which commenced on the 14th October 1982 and expires 28th November 2107 Full ground lease documentation can be provided to interested parties upon request.
Rating The subjects are entered in the valuation roll at a Rateable Value of £114,000.
EPC The subjects have an EPC rating of B and further information can be provided upon request.
VAT All figures quoted are exclusive of VAT at the prevailing rate.
Legal Costs Each party will be responsible for their own legal costs incurred in the transaction. The purchaser will be responsible for any Land and Building Transaction Tax (LBTT) and Registration Dues, if applicable. The cost of obtaining the ground leaseholders consent shall be split equally between both parties