The property comprises a two-storey office pavilion of steel frame construction under a pitched profile metal clad roof. The premises have recently been refurbished and the modern specification includes:
- Flexible open plan floor plates
- Raised access floor
- LED lighting
- Comfort cooling and heating
- Passenger lift
- Fully fitted kitchen and break out areas
- 72 car parking spaces
Location
The subjects are located within the well established Arnhall Business Park Westhill approximately 6 miles west of Aberdeen City Centre. Westhill is a globally recognised centre of excellence in the field of subsea engineering. Many companies related to the North Sea oil and gas exploration and production industry have a presence in the area.
Nearby occupiers include Boskalis Subsea Services, TechnipFMC, Subsea 7 and Total Energies.
Nearby amenities include Costco, Tesco, Hampton of Hilton, M&S Simply Food, Aldi, Starbucks and McDonalds.
The Aberdeen Western Peripheral Route (AWPR) provides access to and from the North and South of the City with the Westhill interchange 2 miles East.
Accommodation
Ground Floor - 6,351 sq ft
First Floor - 6,797 sq ft
Total - 13,148 sq ft
Terms
PROPOSAL
We are seeing offers over £1,250,000 (One Million Two Hundred and Fifty Thousand Pounds), exclusive of VAT, for our client’s heritable interest (Scottish equivalent of English freehold).
A purchase at this level would reflect a Net Initial Yield of 15.89% after purchasers’ costs, with a minimum anticipated reversionary yield of 16.72% following fixed rental uplift in January 2028.
SERVICE CHARGE
There is a service charge payable by the occupiers in relation to the maintenance and repair of the common areas of the building. Further details available upon request.
VAT
The property has been elected for VAT and it is anticipated that the transaction will be treated as a Transfer of a Going Concern (TOGC).
EPC
The property has an EPC rating of A.
Further details upon request.
For a detailed view of the Tenancy & Tenant Covenant, please view attached brochure.
Specification
Investment Summary
- Aberdeen is Scotland’s third largest city and widely recognised as the Energy Capital of Europe
- Arnhall Business Park is a well established and popular business location
- Opportunity to acquire a modern income producing office building
- Let to two tenants: Marsh Corporate Services Ltd and Pale Blue Dot Energy Ltd, a subsidiary of Storegga Ltd.
- WAULT of 1.76 years until breaks, rising to 6.76 to expiry
- Passing rent of £210,368 per annum reflecting £16.00 per sq. ft
- Heritable interest (Scottish equivalent of English Freehold)
- EPC rating of A