The property comprises a terrace of 5 similar sized industrial units each with dedicated car parking and shared yard space. There is also a secure yard currently used for storage adjoining the south gable of the terrace. The units offer a standard eaves height of 6.85m (22ft 6in).
Location
The property is situated in Linwood Industrial Estate next to Phoenix Park, just off the Linclive Interchange on the A737, 1.5 miles to the southwest of Glasgow International Airport. Glasgow city centre is 11 miles to the east and is well located to access both North Ayrshire and Inverclyde.
Accommodation
Each unit comprises a workshop with varying sized internal offices. The GIA of each unit is as follows:
Unit A - 337.43 sq m (3,632 sq ft)
Unit B - 334.04 sq m (3,596 sq ft)
Unit C - 276.83 sq m (2,980 sq ft)
Unit D - 276.83 sq m (2,980 sq ft)
Unit E - 286.70 sq m (3,086 sq ft)
TOTAL - 1,511.83 sq m (16,274 sq ft)
Yard - 505.00 sq m
Terms
PRICE - Our client is seeking offers in excess of £XXX for their heritable interest. After purchaser costs, the investment will provide a reversionary yield of 10.13%, allowing for purchaser costs at 5.0% based on an estimated rental income of £XXX p.a.
VAT - All prices, rents, premiums, etc are quoted exclusive of VAT.
TENANCIES - Four of the five units and yard are held on full repairing and insuring lease agreements with the remaining unit currently on the market. The WAULT at date of marketing is 3.15 years. The principal terms of lease are detailed in the table attached.
RATING ASSESSMENTS:
Unit A - £XXX
Unit B - £XXX
Unit C - £XXX
Unit D - £XXX
Unit E - £XXX
Yard
MANAGEMENT FEE - 5% Management Charge.
Please note Units A & B currently share water and electricity charges. Each Tenant is invoiced by the Landlord on an equitable basis. Until very recently, the development has been privately managed by our client and therefore detailed service charge information is not available.
EPC:
Unit A - Rating G
Unit B - Rating G
Unit C - Rating G
Unit D - Rating G
Unit E - Rating G
Specification
- Income - £XXX p.a.
- ERV - £XXX p.a.
- WAULT - 3.15 years
- Exceptional letting history
- Eaves Height - 6.85m (22ft 6in)
- Good motorway access
- Close to Glasgow International Airport