**CLOSING DATE SET 12 NOON THURSDAY 13TH APRIL**
Unique, easily managed office investment in Festival Park/Kinning Park
Well located for access to Glasgow City Centre and Digital Media quarter.
New 5 year lease to Leonard Cheshire Disability, from 21 September 2016.
4.5 years unexpired.
Unit measures 109 sq.m (1,175 sq.ft) NIA approx.
Passing rent of £XXX per annum.
OFFERS IN THE REGION OF £XXX INVITED (9% NIY)
Location
The subjects are situated on the south side of Marine
Crescent immediately to the north of Paisley Toll and which
is accessed via Mavisbank Gardens.
The property is located within Festival Park in the Kinning
Park area of Glasgow a short distance to the south west of
the city centre with good access to local amenities and both
public transport and the motorway network
Accommodation
DESCRIPTION
The subjects comprise office premises which occupy part of
the ground floor within a two storey purpose built property
of traditional cavity brick/concrete blockwork construction
surmounted by a mono-pitched roof.
Internally, the accommodation has been subdivided
to provide a series of cellular offices and ancillary
accommodation including WC, kitchen/tea prep and
storage.
FLOOR AREAS
According to measurements taken on site, we estimate the
net internal are of the property to be as 109 sq.m (1,175
sq.ft).
LEASE TERMS
The subjects are let to Leonard Cheshire Disability, a
Registered Scottish Charity (SC005117), for a period of 5
years, from 21 September 2016 until 20 September 2021.
The lease is held on Full Repairing and Insuring Terms,
limited by reference to a Schedule of Condition annexed
to the lease.
The current passing rent is £XXX per annum exclusive.
The tenants have the right to terminate the lease on the 3rd
anniversary of the date of entry, subject to providing not
less than 6 months prior written notice.
PRICE
Offers in the region of £XXX are invited for the
purchase of our client’s heritable interest, subject to and
with the benefit of the existing occupational lease.
A purchase at this level would reflect a Net Initial Yield of 9%
after allowing for purchasers costs.
RATING ASSESSMENT
From the Scottish Assessors website, we note that the
subjects are entered in the current Valuation Roll at a
Rateable Value of £XXX
ENERGY PERFORMANCE
The energy performance rating of the subjects is C.
A copy of the energy performance certificate can be made
available on request.
VAT
All prices quoted are exclusive of VAT, where applicable.