SIG, Eurocentral_Property for Sale
SIG, Eurocentral_Property for Sale
30 Coddington Crescent, Eurocentral, ML1 4YF

SIG, Eurocentral

Asset Description

  • Eurocentral is Scotland’s premier Logistics and Distribution Estate, sustaining critically low supply levels.
  • Neighbouring occupiers include Amazon, Scania, DPD, Next, NHS, Stapletons, Gist, Wincanton, Lidl, GXO, BrewDog, Evri, Morrisons and others.
  • The estate boasts immediate access to the M8, M73 and M74 motorway networks from a dedicated four-way junction.
  • 30 Coddington Crescent is strategically positioned approximately 12 miles east of Glasgow and 36 miles west of Edinburgh.
  • Purpose built in 2006 - the property comprises a modern detached warehouse of steel portal frame construction with associated 2-storey office and trade counter accommodation.
  • Benefits from 4 electrically operated roller shutter doors, 10m eaves height (12.8m apex), and 11.5m deep canopy.
  • 1.6-acre secure concrete yard (45m depth), fully enclosed by a 2.4m galvanised steel palisade fence.
  • There are 55 dedicated car spaces.
...

Attributes

Asking price
€11,787,000
Investment strategy
Core
Building area net
6,728 m²
Occupancy
100%
Remaining lease term
9.1 years
EPC
Grade A

Media

Investment Highlights

  • Let to SIG Trading Limited (t/a SIG Distribution) on full FRI terms until 13th October 2033 without break (9.1 years term certain).
  • Highly committed tenant who have been in occupation since 2006 and recently agreed a 10-year lease extension.
  • The facility serves as the tenant’s main distribution hub and trade counter for Scotland.
  • Detached modern distribution unit extending to 72,422 sq ft, with a 6,869 sq ft canopy and 1.6 acre secure concrete yard.
  • Large site area of 2 hectares (4.96 acres) providing a low site coverage of 35%.
  • Passing rent of £615,000 per annum reflecting a rate of £8.49 per sq ft.
  • 5 yearly upwards only open market rent reviews, with the next review falling on 14th October 2028.
  • EPC Rating of A (5).
  • Heritable Interest.
  • We are instructed to seek offers in excess of £9,800,000 (Nine Million Eight Hundred Thousand Pounds Sterling) for our client’s Heritable interest in the property, subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 5.88%, a reversionary yield of 6.58% (based on our opinion of ERV) and a capital rate of £135 per sq ft, allowing for standard purchaser’s costs based on LBTT.
SIG, Eurocentral 4_Property for Sale
SIG, Eurocentral 4_Property for Sale

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Last updated
6 Nov 2024