Greenhill Business Centre occupies a site extending to approximately 1.44 ha (3.55 acres) where the accommodation comprises of workshops and cellular offices.
The majority of workshops have direct access through a dedicated service yard whilst the office suites are accessed internally. There are 14 office units, 13 workshop units and 28 storage units of various sizes in total.
The building is of brick construction covered by an eight bay ridged roof with skylights. On the west side there are single storey flat roof extensions.
Some units have dedicated external access.
Businesses within Greenhill Business Centre include SAT Vision Scotland, Caledonian Laboratories, Milnwood Windows, Fraser Crane & Lifting Service etc.
Location
The subjects are located within Greenhill Industrial Estate approximately one mile north of Coatbridge town centre.
Coatbridge enjoys excellent access to the M8, M73 and M74 motorways and lies approximately 10 miles east of Glasgow city centre. Mainline rail links are provided by stations at Coatbridge Central, Whifflet, Coatdyke and Sunnyside whilst the area benefits from regular bus services travelling to Glasgow and beyond.
Accommodation
There are a variety of units available ranging from 9.6 sq m to 247 sq m (103 sq ft to 2,659 sq ft). The total gross area of the unit extends to 3,427.97 sq.m (36,899 sq ft). The total lettable area extends to 3,031.87 sqm (32,635 sq ft).
Terms
TENANCY
There are currently 24 tenants occupying 28 units that give an annual income of c.£82,000.
Full tenancy information is available upon application.
RATEABLE VALUE
Rateable Values lies between £600 and £6,200. The units are individually rated with a total value of £111,950. For further information on individual units please visit Scottish Assessors Association Website www.saa.gov.uk
ASKING TERMS
Offers in excess of £650,000 are invited for the freehold interest with the benefit of the existing lease reflecting a net initial yield of 11.96% after allowing for purchaser costs of 5.8%. The price provides a very attractive reversionary yield, assuming 80% occupancy of 16.77%, after allowing for purchaser cost of 5.8%.
Specification
- Excellent Asset Management Opportunity
- Popular Industrial Location
- Site of 1.44 Ha (3.55 Acres)
- Passing Rent c.£82,000 per annum