Industrial Investment

• Passing rent £18,000 per annum
• Offers over £200,000
• NIY 8.77%

LOCATION

The property is located on the east side of Sir William Smith Road within the well established and popular Kirkton Industrial Estate on the western outskirts of the Angus town of Arbroath.

Arbroath has a resident popular of approximately 23,000 and lies on the Angus coast approximately 16 miles north-east of Dundee and 45 miles south west of Aberdeen.

DESCRIPTION

The subjects comprise a semi-detached industrial property which forms part of a small development built in 2010.

The building is of steel portal frame construction with concrete block infill walls and double skin insulated cladding above and to the roof. The property benefits from an electrically operated roller shutter door and gas fired radiator central heating.

Internally the property provides workshop accommodation (part full height and part mezzanine floor), staff kitchen, boardroom and toilet at ground floor level with “wrap around” mezzanine floor providing further workshop accommodation and ladies and gents toilets.

There is a shared parking and unloading area to the front of the building.

FLOOR AREAS

The subjects provide the following gross internal floor areaa, measured in accordance with the RICS Code of Measuring Practice (Sixth Edition)

Workshop                                          91.25 sq m     (982 sq ft)      

Workshop (Restricted Height)        281.24 sq m   (2,045 sq ft)

Mezzanine                                         189.99sq m    (2,045 sq ft)

Total                                                   471.23 sq m   (5,072 sq ft)   

LEASE TERMS

The property is leased to PKS Group Ltd until 31^st January 2026 at a passing rent of £18,000 per annum. The lease is subject to an upwards only rent review on 1^st February 2024. A copy of the lease is available on request.

PRICE

Offers over £200,000 are invited for our clients heritable interest in the subjects reflecting a Net Initial Yield of 8.77% after deduction of standard purchasers costs.

TENURE

Heritable

RATING ASSESSMENT

The valuation role shows a rateable value of £14,900 with effect from 1^st April 2023.

The Uniform Business Rate for the year 2023/2024 is 49.8p in the £. Water and waste water rates are also payable.

ENERGY PERFORMANCE CERTIFICATE

The property has an EPC rating of B.

Full documentation is available upon request.

VAT

Any price quoted is exclusive of VAT which may be applicable.

ENTRY

On conclusion of all legalities

OFFERS / VIEWING

All offers should be submitted in writing to the sole agents who will also make arrangements to view.

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