6 Almondvale Business Park, 6, Almondvale Way, Almondvale Business Park, Livingston, EH54 6GA

Summary

Multi-Let Office Investment with Value Adding Opportunities

Investment Summary

• Multi-let office investment opportunity in the town of Livingston.
• Prominent office building located in the well-established Almondvale Business Park, extending to 30,670 sq ft (2,849.34 sq m). 
• Let to Bellway Homes, Nexperia UK Ltd and Energy Assets with an unexpired term of 8.27 years to expiry and 4.08 years to break.
• The building has been pro-actively managed and benefits from re-based rents. The total current passing rent of £269,472 per annum representing a low rate of £9.50 per sq ft. 
• Asset management opportunities through letting vacant space and negotiating with existing tenants. 
• Heritable tenure (Scottish equivalent of English Freehold).

Offers in excess of £2,250,000 are sought for our client's heritable interest in the property. A purchase of this level would provide the following yield profile:

• Net Initial Yield: 10.48%*
• Equivalent Yield: 9.55%
• Reversionary Yield: 12.23%

This equates to a low cap rate per sq ft of £73 assuming purchaser's costs at 5.87%. 

* Triple net position following the deduction of vacant rates and service charge.