25 South Douglas Street, Glasgow_Property for Sale

South Douglas Street 25, Glasgow, G81 1PD, UK

25 South Douglas Street, Glasgow

Asset description

Clydebank is a well-established industrial location, which benefits from a low-vacancy rate and prominence onto Dumbarton Road (A814).
It is situated approximately 8 miles north west of Glasgow City Centre, and 4.1 miles north of Glasgow International Airport.
The town of Clydebank has a resident population of around 41,000 and a surrounding population of 93,000.
Surrounding occupiers include Booker Plc, Morrison Bowmore Distillers, Edrington Group and BAE Systems.
The property is located on South Douglas Street, roughly 1 mile south east of Clydebank town centre and is accessed via Clyde Street.
The property comprises a 15,575 sq ft (GIA) detached industrial unit on a site of approximately 0.73 acres.
Specification of the property includes translucent roof lights, two electrically operated roller shutter access doors, a clear internal height of 5.1m to steel haunch, rising to a maximum of 6.2m, gas fired warm air blowers, 3 - phase electricity supply and LED lighting throughout.
The yard has been re-surfaced, and is hard-standing, secured by palisade fencing.

...

Attributes

Building area net

15,575 sf

Occupancy

100%

Land area gross

0.73 acres

WAULT

2.5 years

NOI

$153,000

Asking price

$1,800,000

Media

Investment highlights

The property is single-let in whole to Feildcore Service Solutions International LLC (a global company that is a wholly owned subsidiary of GE Vernova).
Fieldcore Service Solutions have been in occupation since 2002, and is let on FRI terms until 27th November 2027 (2.5 years until expiry of the lease).
Current passing rent is £112,918 p.a, equating to £7.25 per sq ft.
The property is used as a centre to facilitate the servicing, maintenance and distribution of GE Vernova's power regeneration equipment.
Heritable Interest.

We are instructed to seek offers in excess of £1,332,000 (One Million Three Hundred and Thirty Two Thousand) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 8.00%, and a capital rate of £85 psf, allowing for standard purchaser's costs based on LBTT.