Industrial Investment Opportunity.
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Location
The subjects are located approximately one mile south of Aberdeen City Centre on Greenwell Road within East Tullos Industrial Estate. Greenwell Road is one of the main roads servicing the estate and connects with Wellington Road and in turn the A90 to the South. Other major occupiers include Shell UK Ltd., Wood Group Engineering, NorDan, Subsea 7 and Asco Marine.
Accommodation
The subjects comprise of a single storey office and workshop with adjoining warehouse store and and covered storage (canopy) extension on the east side on a site extending to 0.35 Hectares.
The site is bounded by palisade fencing and is accessed via two sets of double gates fronting onto Greenwell Road. There is a tarmacadam surfaced car park to the front of the premises providing space for approximately 16 cars. There is a mix of concrete and tarmacadam surfaced yards to the east sides of the building. Access to the warehouse and workshop is provided via three roller shutter doors.
Terms
We are instructed to seek offers in excess of £850,000 exclusive of VAT, after making an allowance for standard purchaser costs of 5.80%. This pricing provides the following yield profile:
Net Initial Yield (based on rental top up to £98,000 PA) = 8.61%
28 November 2020 (based on our ERV at rent review) = 9.95%