The subjects comprise a substantial modern detached and extended industrial Warehouse and Office property which is let to Astrak (UK) Limited.
The building is of steel portal framed construction benefitting from insulated metal cladding to walls and roof coverings.
There is a high specification and good quality, two storey administration block attached to the front of the building, of reconstituted stone block cladding with a large and extended Warehouse attached to the rear which is of steel frame and reconstituted stone block cladding to lower walls and insulated metal cladding to upper walls and roof. There is an additional standalone workshop towards the rear of the site.
The industrial accommodation benefits from varied eaves heights ranging from circa 4.95m (16ft) to 5.5m (18ft).
The site has the benefit of a 'Tarmacadam' surface car park immediately to the front, with a concrete and mono block surfaced yard to the side and rear which benefits from partial secure perimeter fencing.
( Agency Pilot Software ref: 53345 )
Location
The subjects are situated on the Western side of Wheatfield Road, Kirkcaldy lying on the western periphery of Mitchelston Industrial Estate. The estate is a recognised and industrial location offering a mixture of local, regional and national company representation.
Accommodation
WORKSHOP 26,489 sqft
GROUND OFFICE 1,875 sqft
FIRST OFFICE 4,960 sqft
STANDALONE WORKSHOP 3,100 sqft
Terms
LEASE TERMS 17th November 2031
RENT PASSING £180,000 per annum, exclusive
RENT REVIEW 5 Yearly review pattern on upwardly only provision; next rent review on the 17th of November 2026
BREAK OPTION Tenant Break option in July 2029
REPAIRING / INSURANCE ONLIGATIONS EPC Tenants Full Repairing & Insuring Obligation, subject to Schedule of Condition An EPC is available upon request VAT All prices are quoted excluding VAT
SAL E P R I CE Our clients are inviting offers in excess of £1.95 million subject to the existing lease, which reflects a Net Initial Yield of 8.69% and a Reversionary Yield between 10.95% and 11.31%
. LEGAL COSTS Each Party to bear their own legal costs incurred by the transaction.
MONEY LAUNDERING Under HMRC and RICS regulations and The Criminal Finances Act 2017, as property agents facilitating transactions, we are obliged to undertake AML due diligence for both the purchasers and vendors (our client) involved in a transaction. As such, personal and or detailed financial and corporate information will be required before any transaction can conclude.
Specification
- Let to Astrak (UK)
- Limited Lease from November 2021 until November 2031
- Tenant Break Option July 2029
- Rent Passing of £180,000 per annum, exclusive
- Rent Review 17th November 2026
- Offers invited in excess of £1.95m
- Net Initial Yield 8.69% and a Reversionary Yield between 10.95% and 11.31%