The subjects comprise a 2 storey, detached office building which is assumed to be of steel framed construction having a variety of rendered brick/block and insulated profiled panel infill walls. The building is contained under a pitched roof which is clad in insulated profile metal sheeting.
Access to the subjects is taken directly from Bo’ness Road with the property arranged internally to provide independent ground and first floor suites. Each suit is presented to a high quality standard and have been developed to accommodate a range of open plan and cellular accommodation together with appropriate staff and support sections.
The subjects have modern LED light fitments throughout while space heating is provided by wall mounted radiators served from a solid fuel Bio-mass boiler.
Externally the subjects benefit from 18 dedicated parking spaces which lie directly to the rear of the building.
Location
The subjects form part of Inchyra Business Park, lying on the southern side of Bo’ness Road, immediately to the west of its junction with Inchyra Road and to the east of Grangemouth’s town centre.
The premises lie within an established area of commercial usage with nearby occupiers including Tarmac Trading ltd, Doosan Babcock, and DKL Metals. Part of Grangemouths significant petrochemical facility lies immediately to the east, on the opposite side of Inchyra Road.
In this regard, Grangemouth itself comprises an established town within central Scotland lying on the southern banks of the River Forth astride the A904 road route, approximately 3 miles east of Falkirk and some 20 miles west of Edinburgh.
The town is home to one of the countries and indeed Europe’s largest petrochemical facilities as well as benefitting from Scotland’s largest port complex which handles some 9 million tons of cargo each year, amounting to approximately 30% of Scotland’s GDP. Each of the aforementioned facilities provide significant employment for the surrounding area.
Accommodation
We calculate the subject provide the following net internal areas: -
Ground floor - 275.70 sq m (2,968 sq ft)
First Floor - 285.22 sq m (3,070 sq ft)
Total - 560.92 sq m (6,038 sq ft)
Terms
RATEABLE VALUE: Having regard to the Scottish Assessors Website we note that the subjects are entered in the current valuation roll as undernoted:-
Ground floor suite- £22,500
Ground floor car parking - £625
First floor suite - £22,750
First floor car parking - £800
PRICE: Offers over £ £775,000 are sought reflecting a generous net initial yield of 8.0% excluding RHI income.
VIEWING: Strictly by arrangement with the sole selling agents.
VAT: All prices quoted are exclusive of VAT which maybe chargeable.
ENERGY PERFORMANCE: A copy of the Energy Performance Certificate (EPC) for the subjects is available upon request.
LEGAL EXPENSE: Each party will be responsible for the payment of their own legal costs. The purchaser will be responsible for the payment of any LBTT, registration dues and VAT incurred.
Specification
- Let to Bilfinger UK Ltd and GAC Services (UK) Ltd
- Established rent roll of £65,000 per annum exclusive
- Non-Domestic Renewable Heat Incentive of circa £2,000 per annum
- WAULT of 6.86 years to lease end and 3.36 years to breaks
- Premises comprehensively refurbished around 2010
- Total net internal area 560.92 sq. m (6,038 sq. ft)
- 18 dedicated parking space provided
- Well positioned property situated adjacent to Grangemouth’s Petrochemical complex, which provides convenient access to the M9 motorway
- Offers over £775,000 reflecting a NIY of 8.0% (excluding Renewable Heat Incentive)