Fenick House - Hamilton Technology Park

• Located in Hamilton International Technology Park, one of Scotland's premier business parks.
• Fenick House extends to 23,776 sq ft of modern office accommodation which was substantially refurbished in 2016.
• EPC Rating of A (15).
• The property is fully let to Last Mile Infrastructure Limited (trading as Energetics) on FRI terms (subject to a Schedule of Condition) expiring 20th March 2031, with a tenant only break option on the 24th January 2030.
• Committed tenants who has invested significantly in the building - a new VRV air conditioning system was installed by the tenants at their own cost in 2022.
• Unexpired term certain of 7 years to expiry and 5.9 years to breaks.
• Strong tenant covenant - D&B rating of 5A2, net worth of £508 million and pre-tax profits of £51.9 million.
• Current passing rent of £364,266 per annum which equates to £15.32 psf.
• RPI linked rent review on 20th March 2026, capped and collared at 4% and 1% per annum compounded annually.
• Based on the Oxford Economics RPI forecast, the passing rent will increase to c. £432,000 at review in 2026.

Offers are invited in excess of  £3,420,000 (Three Million, Four Hundred and Twenty Thousand Pounds Sterling) for our clients heritable interest in the property.

A purchase at this level would reflect an attractive net initial yield of 10.00% and a projected reversionary yield of 11.86% in March 2026 based on purchasers costs of 6.47%.

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