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INVESTMENT SALE, MESL Microwave, Lochend Industrial Estate, Newbridge, EH28 8LP

51,671 Sq Ft / Industrial / General Industrial

Sold - Last updated: 13 October 2015

The subjects comprise a purpose built warehouse and office complex, together with a machine shop annexe and large car park,
all contained within a site extending to approximately 4.34 acres. The main building is of steel portal frame construction, externally clad with full profile metal sheeting on the majority of elevations, with internal blockwork walls to dado height. The roof is flat and clad with insulated profile metal sheeting. The main building is broadly L-shaped and provides single-storey open plan office accommodation in addition to facilities for research and development(including clean rooms), manufacturing, storage and staff break-out. There are suspended ceilings throughout, incorporating LG3 lighting and air conditioning. Heating is provided by gas-fired roof mounted hot air blowers. The smaller machine shop annexe – known as the Galloway Building – is situated to the east of the main building and provides singlestorey partitioned industrial space with staff canteen and WCs. It is
of steel truss construction, with concrete blockwork walls externally clad with mortar and harling. The roof is pitched and clad with insulated profile metal sheeting, incorporating translucent panels providing daylight to the building and electric fans for cooling. Heating is produced by the same means as the main building. The site coverage is approximately 27%. The unbuilt areas provide car-parking for 184 cars, outdoor storage and circulation space. Much of the latter is put over to lawn and landscaping.

Location

Lochend Industrial Estate is located in Newbridge, which lies at the hub of Scotland’s motorway network in the east, where the M8 and M9 motorways meet. The location offers exceptional road access to Edinburgh and the east (7 miles), Glasgow and the south and west via the M8 (35 miles), Stirling and the north-west via the M9 (25 miles) and Perth and the north-east via the M90 (38 miles). Edinburgh Airport is only 3 miles distant. Other occupiers at Lochend Industrial Estate include The Co-Op, Debenhams Retail, Drambuie and RSP Consulting.

Accommodation

The total gross internal area as measured by the selling agents in May 2011 was 51,671 sq ft (4,800.41 sq m).
The breakdwown of the floor areas is as follows:
Main Building            (42,650 sq ft)     3,962.35 sq m
Galloway Building    (9,021 sq ft)       838.06 sq m
Total                            (51,671 sq ft)    4,800 sq m
Site Area                    (4.34 acres)     1.76 hectares

Terms

Investment Summary

  • Located in Edinburgh’s prime industrial location.
  • Let to MESL Microwave Ltd on Full Repairing and Insuring terms until May 2020.
  • 5 yearly rent reviews to the higher of the passing rent, RPI or open market value subject to a maximum increase of 115.9% of the passing rent.
  • Total gross internal area of 51,671 sq ft, with low site coverage of less than 30%.
  • Adjacent to the A8 and Newbridge Interchange with direct access to the M8 and M9 motorways.
  • Current annual rental of £XXX per annum, with the next rent review in May 2015.
  • Offers over £XXXmillion, reflecting a net initial yield of 8.74%, assuming purchaser’s costs of 5.8%.
     


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