Long lease industrial sale and leaseback
Location
The property is located in a prominent position on Hawbank Road, in the College Milton area of East Kilbride, approximately 1.25 miles west of the town centre.
The College Milton estate comprises of a large number of industrial and commercial premises of varying sizes and constructions. Occupiers include Coca Cola, Burn Stewart (Distillers); Howden Joinery; Enviroclean; Halfords and many other international, national and local traders.
East Kilbride was the first of Scotland’s ‘New Towns’ designated in the late 1940’s, and now has a population of circa75,000. As well as College Milton, there are a number of other industrial estates providing significant employment; as well as retail – both town centre and out-of-town, local and national government departments, and educational establishments providing employment opportunities.
The town is well connected to the Scottish motorway network, with feeder roads connecting to the M74 (Glasgow – Carlisle) and M77 (Glasgow – Ayrshire) motorways. Rail is served by two suburban rail stations on the Glasgow and west Scotland network; and bus services run to Glasgow and surrounding towns.
Accommodation
The premises comprise two single storey industrial premises with a common entrance road and yard, also shared by several other occupiers.
Both units, which comprise several interconnecting buildings, are of concrete frame construction with a mix of flat and pitched roofs. Internally building one comprises offices, staff facilities, and manufacturing areas; whilst building two is used for manufacturing, storage and despatch.
In addition and adjacent to the building is a fenced secure yard utilised for external storage.
We understand that the dimensions and accommodation
extends to a total of 2,764.00 m2 / 29,752 sq.ft. over the two buildings
The total site extends to some 4,918.50m2 (1.22 acres) or therebye.
Terms
The property is currently owned and occupied by Clyde Fasteners Limited, company no. SC042783
The company have been trading since 1965, and in occupation of the premises for the last 50 years, manufacturing high quality and innovative fastener solutions for critical infrastructure in the offshore, energy, defence, and construction sectors for customers in the UK and overseas.
Clyde Fasteners Limited will take a new 15 year full repairing and insuring lease from the date of entry. The initial rental will be £115,000 per annum exclusive.
The rent will be subject to review at five yearly intervals to the higher of open market rent, or geared to RPI subject to a collar and cap at 1.0% and 3.0%
The lease will be on standard institutional terms with the repairing obligations subject to a Schedule of Condition.