The complex comprises a 3 storey self contained traditionally built red sandstone building completed in 1906. In addition to the main complex, there is a self contained office building (former janitors house) together with a modern range of nest workshop units to the rear of the complex.
Location
Hyde Park Business Centre is located in the Springburn area of Glasgow, approximately 3 miles to the north of Glasgow City Centre. Glasgow is the commercial/industrial hub of Scotland with a population of approximately 650,000 and a catchment in excess of 1.5 million. The city is well connected to the Scottish motorway system, rail links to both Glasgow Central and Queen Street and airports at Glasgow International and Prestwick. The property occupies the former Hyde Park Public School, opened in 1906 occupying a prominent location within Springburn at the junction of Ayr Street with Mollinsburn Street. The immediately surrounding occupiers include North Glasgow College, United Wholesale complex, Flemington Business Centre, Lidl, Tesco Extra and Costco.
Accommodation
The buildings comprises 45 units used for a mixture of office and workshop uses. The suites range from 150 sq ft to 1,200 sq ft all as shown in the accompanying schedule. The complex provides comprises communal tea/coffee facilities, snack and drink machines, CCTV cameras link to both individual and common burglar alarm circuitry. A secure door entry serves the business centre and there is
excellent on site car parking.
Floor Area - 26,000 sq ft (2,416 sq m)
Terms
Income
The current rent income amounts to £213,000 per annum, with a potential rent roll of £225,000 per annum. Details of leases, lease terms and individual rents are available on request.
General Comments
The Springburn area has been the focus of substantial public sector investment with the provision of new residential communities together with road and general environmental improvements. The areas advantage lies in its proximity to both Glasgow City Centre and the motorway complex nearby.
Price
Offers over £1.45 million, which produces an initial yield of 14% increasing to a 14.7% yield on full occupancy. We have allowed for normal purchasers costs.
Energy Performance Certificate
A copy of the EPC will be provided upon application.
Specification
• 26,000 sq ft / 2,416 sq m fully fitted Business Centre
• 46 tenants
• 94% occupied
• Rent £213,000 per annum
• Potential rent £225,000 per annum
• Vendor management option available