Glenwood Business Centre comprises of a total of 21 high quality office suites of various sizes within a two storey detached office building. The building is of steel frame, brick/block construction with a pitched roof clad in profile metal sheeting.
The location has been a small business hub since its inception and is a great place for new and existing businesses to grow and develop. Notably, this site has been popular with indigenous businesses and professional services capitalising on the small business client base in the area. The property has also been popular with community organisations due to its accessible location and the flexibility of lease structures offered.
Location
Glenwood Business Centre is a well landscaped estate located within the Castlemilk area of Glasgow approximately 6.3 miles south of Glasgow city centre. The property is located in Glenwood Place, close to Castlemilk town centre and Castlemilk swimming pool. The Castlemilk area benefits from excellent transport links via the M74. Additionally, Croftfoot, Kings Park and Burnside train stations are nearby
Accommodation
From measurements taken on site we calculate the subjects to extend to a Net Internal Area of 9,809 sq ft (911.28 sq m).
Terms
TENURE There is currently a ground lease held over the entire Glenwood estate which includes Glenwood Business Centre and Glenwood Industrial Estate. This sale is of Glenwood Business Centre only. The ground lease is from Scottish Enterprise Glasgow from 19th October 2001 until 18th October 2100 for a rental of £XXX per annum only if asked. Further information can be provided to seriously interested parties upon request.
TENANCY SUMMARY • Gross Rental Income £XXX per annum exclusive • Net Rental Income £XXX per annum exclusive (allowing for s/c shortfall) • WAULT 4.33 Years • Total NIA 9,809 sq ft • Current Occupancy 6,169 sq ft (63%) • Estimated Rental Value £XXX per annum exclusive
SERVICE CHARGE It is assumed the current Service Charge budget for the building equates to an average rate of £XXX per sq ft.
ASSET MANAGEMENT Historically, lettings within the business centre have been agreed on short and flexible terms with the majority of leases still subject to those terms. Recent lettings have had a positive impact on the WAULT and there remains an opportunity to improve this further with additional asset management initiatives. See tenancy schedule for full details
PLANNING Class 4 – Business
RATING Purchasers must satisfy themselves directly with the local assessor.
VAT Unless otherwise stated, all prices, rents and premiums are quoted exclusive of VAT.
EPC A copy of the energy performance certificates can be provided to interested parties upon request.
Specification
- OVER 30% LET TO UK GOVERNMENT
- 10 YEAR LEASE TO DWP
- PASSING RENT - £XXX PER ANNUM
- ERV - £XXX PER ANNUM
- WAULT OF 4.33 YEARS TO EXPIRY
- ATTRACTIVE ASSET MANAGEMENT OPPORTUNITY
- OFFERS IN EXCESS OF £XXX