The subjects comprise 18 industrial units forming three terraces which were constructed in the 1970s and are of a steel framed construction with brick infill walls to half height with profiled metal sheet cladding above. The roofs are of monopitched design and clad in asbestos cement.
The estate is served by tarmac surfaced access roads and benefits from having generous communal loading yard and parking areas. Each unit benefits from a having steel roller up and over shutter door and a single pedestrian access door to the front.
Internally the accommodation is provided over a concrete screed floor with painted finishes although some tenants have installed their own floor finishes including timber overlay and carpeting where internal offices have been constructed.
Location
The town of Cowdenbeath is located within west Fife, lying approximately 21 miles north of Edinburgh and 6 miles to the north east of Dunfermline. The town benefits from having a train station which is located on the Fife Circular line providing direct services to Edinburgh Waverley Station, in addition to numerous regular bus services.
Woodend Industrial Estate is situated on the south western edge of Cowdenbeath approximately 1 mile from the town centre. When entering the estate from Broad Street (B891), the subjects, comprising 2 terraces of units are located on the left.
The wider estate is home to a variety of local and national occupiers including Jarvie Plant Group, Williamson A Haulage, Fife Van Centre Limited as well and others.
Accommodation
The subjects have been measured in accordance with the RICS code of measuring practice 6th Edition on a Gross Internal Area basis as below:
Block 3, Unit 1 Workshop - 94.6 sq m (1,018 sq ft)
Block 3, Unit 2 Workshop - 89.9 sq m (968 sq ft)
Block 3, Unit 3 Workshop - 91.0 sq m (980 sq ft)
Block 3, Unit 4 Workshop - 91.0 sq m (980 sq ft)
Block 3, Unit 5 Workshop - 90.1 sq m (970 sq ft)
Block 3, Unit 6 Workshop - 90.6 sq m (975 sq ft)
Block 4, Unit 1 Workshop - 89.6 sq m (965 sq ft)
Block 4, Unit 2 Workshop - 89.6 sq m (965 sq ft)
Block 4, Unit 3 Workshop - 89.6 sq m (965 sq ft)
Block 4, Unit 4 Workshop - 91.3 sq m (983 sq ft)
Block 4, Unit 5 Workshop - 91.3 sq m (983 sq ft)
Block 4, Unit 6 Workshop - 91.4 sq m (983 sq ft)
Block 4, Unit 7 Workshop - 94.5 sq m (984 sq ft)
Block 4, Unit 8 Workshop - 90.1 sq m (1,017 sq ft)
Block 4, Unit 9 Workshop - 90.1 sq m (970 sq ft)
Block 4, Unit 10 Workshop - 90.1 sq m (970 sq ft)
Block 4, Unit 11 Workshop - 90.1 sq m (970 sq ft)
Block 4, Unit 12 Workshop - 90.1 sq m (970 sq ft)
TOTALS - 1,635.3 sq m (17,603 sq ft)
Terms
PRICE - Offers in excess of £895,000 (EIGHT HUNDRED AND NINETY FIVE THOUSAND POUNDS) exclusive of VAT are sought for our client’s heritable interest, reflecting a Net Initial Yield of 8.16% assuming standard purchasers costs of 5.46%.
ENERGY PERFORMANCE - Each property has been assessed individually and the EPC’s can be provided upon request.
SERVICE CHARGE - Managing agents are appointed to oversee the smooth operation of the estate and their costs, together with those associated with the general maintenance of the common parts are recoverable from the tenants by way of a service charge. Further information on this and the breakdown can be provided upon request.
VAT - VAT will be chargeable on the purchase price, however it is anticipated that a sale will be progressed by way of a transfer of going concern. (TOGC).
LEGAL COSTS - Each party will be responsible for paying their own legal costs incurred in this transaction. The purchaser will be responsible for any LBTT and registration dues.
ENTRY - Upon completion of legal formalities.
ANTI MONEY LAUNDERING - DM Hall Is regulated by HMRC in its compliance with the UK Money Laundering (Information on the Buyer) Regulations 2017. In terms of these Regulations we are obliged to be in possession of satisfactory evidence of the identity of the buyer.
We will request information, consistent with the Regulations, to help us identify the successful bidder before acceptance.
TENURE - Please see attached brochure
Specification
- Multi Let Investment Opportunity with 100% occupancy.
- Excellent access to road and rail networks
- 18 units set within 2 blocks with a GIA of 1,635.3Sq.m. (17,603sq.ft.)
- Current passing rent of £77,100 per annum with reversionary potential
- Offers in excess of £895,000 exclusive reflecting a Net Initial Yield of 8.16% and low capital rate of £50.84/sq.ft.