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.
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Attributes
Asking price
HK$98,172,000
Investment strategy
Core
Building area net
72,422 sf
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 termsuntil 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.