CCF/Travis Perkins - 15 Robert Drive, Glasgow

• Opportunity to acquire a prime, modern industrial investment in one of Glasgow’s premier industrial estates.
• Located in the established industrial area of Govan, close to Glasgow city centre and with excellent connectivity via Junction 23 and 24 of the M8 motorway.
• Highly specified unit extending to 34,778 sq ft, on a large site area of 1 hectare (2.46 acres) providing a low site coverage of 30%.
• Let to Travis Perkins (Properties) Limited (trading as CCF) until 30 November 2031 without break (7.8 years term certain).
• Passing rent of £280,434 per annum (£8.06 per sq ft).
• 5 yearly rent reviews to the higher of two thirds of Market Rent or 3% per annum compound increase – next rent review 1 December 2026.
• Held long leasehold from Travis Perkins Plc for a term of 175 years from 1 December 2006 at a peppercorn rent.
• The long leaseholder has a right to acquire the heritable interest for £1, exercisable on expiry of the occupational lease or if a Group company of Travis Perkins Plc ceases to have an interest in the occupational lease.

We are seeking offers in excess of £4,050,000, a purchase at this price point would produce a net initial yield of 6.50% and a minimum reversionary yield of 7.54% at review.