The subjects comprise business premises which are around 15 years old formed around a steel portal frame insulated composite panel finish to walls and roof.
Internally the subjects have been used as a call centre for a number of years over ground and mezzanine levels.
Location
The subjects are located within Rowallan Business Park an established commercial location located to the north of Kilmarnock town centre offering easy access to the A77/M77. Kilmarnock is the principal settlement in the East Ayrshire Council area with a resident population of around 43,500.
Accommodation
Ground Floor 2,879.9 sq. m. (31,000 sq. ft.)Mezzanine 787.6 sq. m. ( 8,478 sq. ft.)
TOTAL 3,667.5 sq. m. (39,478 sq. ft.)
Terms
RATING ASSESSMENT The property is currently entered in the Valuation Roll as follows: RV £XXX
ENERGY PERFORMANCE CERTIFICATE A copy of the EPC is available upon request
LEASE TERMS The subjects are held on a 15 year lease from 23rd September 2009 with tenant options to break at the end of years 5 and 10. The lease is drawn on essentially full repairing and insuring terms. The current passing rent is £XXX per annum with a further review in September 2019 assuming the tenant does not exercise their break option.
TENANT COVENANT The tenant is Telecom Service Centres Ltd established in 1993 trading as Webhelp UK who provide customer management and contact centre services in the UK and internationally. The ultimate parent company is Webhelp SAS. The company has locations in Dearne Valley, Derby, Dunoon, Falkirk, Glasgow, Greenock, Kilmarnock, London, Rothesay and Warrington. Accounts to the year ended December 2013 show the company having a net worth of £XXX million. Experian rate the company as “very low risk”.
PRICE Offers over £XXX are invited reflecting a net initial yield of 8.8% after purchasers costs.
Specification
- CALL CENTRE PREMISES
- LET TO TELECOM SERVICE CENTRES LTD
- RENTAL £XXX PER ANNUM
- OFFERS OVER £XXX
- NET INITIAL YIELD 8.8%