The subjects comprise a steel portal framed industrial building with insulated metal profile cladding to walls and roof cover, within a levelled and secure yard which is part concrete surfaced and part hardcore surfaced. Towards the front of the building a two storey internal office/administrative block has been created, interconnected by way of metal fire stairs accessed from the ground floor reception area. In addition to office accommodation, toilet cubicles and a staff facility are provided.
To the rear of this lies open plan warehousing accommodation which has been adapted as a chilled storage facility encompassing refrigerated chill rooms and freezer rooms. Rear loading is available from a secure yard facility via two vehicular access points. The rear yard area benefits from a metal palisade perimeter fence and tarmacadam surface. Additional car parking is provided to the front of the property.
( Agency Pilot Software ref: 52958 )
Location
The subjects are located in Livingston, which lies approximately 15 miles to the west of Edinburgh and 35 miles to the east of Glasgow. Livingston is a recognised industrial and business location popular with a variety of local, regional and national businesses, due to its close proximity to the Scottish motorway network, notably the M8 and M9, which provides good access throughout Scotland’s Central Belt and beyond. More specifically, the subjects are located on the south-east side of Oakbank Park Place, within proximity to several similar commercial properties, and lie close to the intersection with Oakbank Park Road. Nearby occupiers include Move it Express, DX Express, Valneva and Evo Group.
Accommodation
Building extends to 1,475.49 sqm (15,882 sqft)
Terms
RATEABLE VALUE According to the Scottish Assessors website, the subjects have a rateable value of £119,000.
TENURE Outright Heritable Interest (Scottish equivalent to English Freehold) subject to the existing lease.
PRICE We are instructed to seek offers over £1,350,000 (One Million Three Hundred & Fifty Thousand Pounds Sterling) exclusive of VAT. Allowing for purchasers costs (LBTT - £56,000, 1.5% professional fee’s + vat £24,300) the property offers an attractive Net Initial Yield of 7.69%.
VAT AND LEGAL COSTS The above price is exclusive of VAT which may be charged at the prevailing rate. Each party shall be responsible for their own legal costs incurred in this transaction.
EPC The building benefits from an EPC of D48
ESG CREDENTIALS The building has PV panels affixed to the roof + there is an EV car charger.
Specification
- High Quality Bespoke Single Let
- Industrial Asset with Secure Yard & Private Parking
- Building extends to 1,475.49 sqm (15,882 sqft)
- Site extends to 0.457 Hectares / 1.12 acres (low site coverage)
- Excellent Transportation
- Links in a Proven Location
- Guide Price – Offers Over £1.35m
- Attractive Net Initial Yield of 7.69