
Boots, Letchworth
UK - Letchworth, Hertfordshire
TRY 264,482,000 | 7,693 m²
Darrows Industrial Estate is located in Bellshill, approximately 11 miles south-east of Glasgow and 38 miles west of Edinburgh. Bellshill is strategically located on the M8 corridor within the Scottish central belt and benefits from best-in-class motorway connectivity across Scotland via Junction 7 of the M8 and Junction 8 of the M73. Access to south-west Scotland and England is via Junction 5 of the M74.
Darrows Industrial Estate comprises 21 units within a self-contained secure site, bounded by a perimeter fence. The estate is accessed via John Brannan Way and benefits from communal yard areas and dedicated car parking.
The units are terraced and of steel portal frame construction, with facing brick frontages and corrugated roof cladding incorporating roof lighting.
A rare opportunity to acquire a highly reversionary multi-let industrial estate in a 100% prime location.
Located in Bellshill, within Scotland’s central belt, which is widely regarded as one of the country’s premier industrial locations, situated 11 miles east of Glasgow and 38 miles west of Edinburgh.
Darrows Industrial Estate is positioned approximately 1 mile to the northwest of Bellshill and benefits from excellent road links and accessibility to the M8, M73 and M74.
The Property comprises a single standalone block encompassing 21 units over 57,060 sq ft, ranging from 836-5,241 sq ft in size.
The landlord has undertaken a rolling internal refurbishment programme with units 7, 8, 10, 16 and 17 completed and works to units 4, 8, 13, 14 and 18 underway.
Let to 19 tenants, providing exposure to a diverse income stream, with a WAULT of 4.63 years to expiries and 3.89 years to break options.
Strong performing industrial occupational market in Bellshill which benefits from a critically low vacancy rate of <1% and strong occupier demand.
Current passing rent of £381,491 per annum, inclusive of rent top-ups, reflecting a low average passing rent of £6.69 per sq ft.
Recent occupational activity has set a new rental tone within the estate, which now offers significant reversionary potential.
Guaranteed income performance through fixed rental increases.
9 EV charging stations are under offer to SSE Energy Solutions at £18,000 p.a, which will provide additional reversion.
Heritable interest (Scottish equivalent of English freehold).
Offers in excess of £5,115,000 (Five Million One Hundred and Fifteen Thousand Pounds Sterling) are sought 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 7.00% and a low capital rate of £90 per sq ft assuming standard purchaser’s costs. Based upon our opinion of ERV, the property offers the following yield profile: