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

30,670 Sq Ft / Offices

Withdrawn - Last updated: 11 April 2023

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 £XXX per annum representing a low rate of £XXX 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 £XXX 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 £XXX assuming purchaser's costs at 5.87%. 

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


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