The subject property comprises a modern detached hybrid industrial warehouse with mezzanine offices.
- The building is of steel portal frame construction.
- The warehouse ground floor consists of a production area and clean rooms (recently extended internally), plant room, loading, canteen, toilets and ancillary.
- The first floor comprises a variety of modern offices, partitioned meeting rooms and boardrooms.
Location
The subject property lies within the town of Blantyre which in turn is within the South Lanarkshire Local Authority area. Blantyre has a population in the region of 18,000 people and is located in west central Scotland, approximately 12 miles southeast of Glasgow city centre.
The town has good links to the transport network being situated a short distance from Junction 5 (Raith Interchange) of the M74 motorway and is accessed via the A725 trunk road. The M74 provides access to the M73, M8, M77 and thereafter to the national motorway network.
The mainline railway station links the town directly to Glasgow city centre. Bus travel offers regular links to Glasgow and other principal towns within Lanarkshire.
Hamilton Technology Park is strategically located approximately 13 miles south-east of Glasgow city centre. The Park has immediate access to the A725 Expressway, M74 (J5) and the Scottish motorway network. The park is well served by both bus and rail services, with three train stations and twelve buses servicing the park every hour.
The Park is a successful business park with occupiers including John Lewis, HSBC Bank, SP Energy Networks, Scottish Power, University of the West of Scotland and a variety of other regional and national occupiers. It provides a mixture of office pavilions, both multi and single occupancy, interspersed with hybrid style industrial units such as 4 Stanley Boulevard.
The site is located towards the eastern boundary of the Park, lying on the west side of Stanley Boulevard and south of the expressway. The property is situated amidst a pocket of five detached properties; three of which are office pavilions, with the subjects and one other comprising hybrid industrial style units.
Accommodation
Ground Floor - 1,555.30 sq m (16,741 sq ft)
First/Mezzanine - 468.10 sq m (5,039 sq ft)
TOTAL - 2,023.40 sq m (21,780 sq ft)
The entire site extends to approximately 0.89 hectares (2.20 acres).
The rear surfaced yard area extends to approximately 0.26 hectares (0.64 acres).
Terms
LEASE TERMS - The property is leased on FRI terms to Sivers Photonics Ltd (Company No -SC 211759) for a period of 20 years from 8th January 2010 to 30th August 2030 without break.
There is no schedule of condition and the tenant has been in occupation since 2001. The total current passing rent is £165,000 per annum effective from 30th August 2025 The passing rent equates to a rate of £8.00 per sq ft for the warehouse, £4.00 for the offices and a rental of £10,916 p/a for the yard space of 0.64 acres. We consider the ERV to be circa £185,000 p/a Further detail on request.
TENANT - Sivers Photonics Limited, is a wholly owned subsidiary of Swedish parent company Sivers Semi Conductors who have a net worth of £91.5 million. Sivers Semiconductors is a tech company that designs, develops, manufactures and sells semiconductor components, modules, and subsystems.
The company is divided into two business units: Wireless and Photonics. The Photonics unit includes actual manufacturing which is run from the subject property (for lasers / optical devices etc). They sell their products to the International markets, in particular the far east and the USA.
For the year ending December 2024, Sivers Photonics Limited reported a turnover of over £6.323 million, a gross profit of £3.535 million, a net loss of £2.09 million and a net worth of £6million. Further tenant financial information can be provided upon request.
EPC - An Energy Performance Certificate is available on request.
TENURE - Heritable Interest (Scottish equivalent to English Freehold).
VAT/TOGC - VAT has been elected and it is anticipated that the sale will be treated as a transfer of a going concern.
LEGAL COSTS - Each party will be responsible for their own legal costs in connection with the transaction with the purchaser being responsible for any registration fees and stamp duty.
PROPOSAL - Offers in excess of £1,725,000 (One Million, Seven Hundred and Twenty Five Thousand Pounds Sterling), exclusive of VAT. A purchase at this level offers an attractive net initial yield of 9.01% & low capital value of £80 per sq ft, after allowing for standard purchasers’ costs of 5.86%.
Specification
- Rare opportunity to acquire a modern detached hybrid industrial warehouse with ancillary offices and supporting accommodation.
- Secure enclosed rear yard accessed through double electrically operated gates and 52 dedicated car spaces.
- The site is located within Hamilton Technology Park approximately 13 miles from Glasgow City Centre and 42 miles from Edinburgh City Centre.
- Adjacent to the A725 Expressway with access to Junction 5 of the M74 motorway
- Park occupiers include University of the West of Scotland, HSBC Bank, SP Energy Networks and Scottish Power.
- Total net internal area 21,780 sq ft (2,023.40 sq m) with the overall site measuring 0.89 hectares (2.20 acres)
- Landscaped area to the rear offers opportunity for future expansion.
- Let to Sivers Photonics Ltd on a lease expiring 30th August 2030
- Low passing rent of £165,000 per annum (£7.57 per sq ft)