Meridian Court, 5 Cadogan Street, Glasgow, G2 6QE

Executive SummaryGlasgow is one of Europe’s most dynamic and vibrant cities;An iconic building located within the International Financial Service District (IFSD);Highly specified office extending to 65,822 sq.ft (6,117.07 sq.m) and benefitting from 24 secure car parking spaces (providing a ratio of 1:2,742 sq.ft);Let in its entirety to The Scottish Ministers on a full repairing and insuring lease until 30 September 2023 at a passing rent of £1,523,301 per annum, reflecting £XXXsf on the office accommodation, £XXXsf on the external atrium and basement and £2,500 per car parking space;The tenant, at their own expense, carried out an extensive refurbishment and improvements programme in 2011;The final rent review is due as at 1 October 2018 and incorporates a fixed increase to £1,723,475 per annum;Heritable interest (Scottish equivalent of English Freehold).Offers in excess of £23,500,000 (Twenty Three Million, Five Hundred Thousand Pounds Sterling), are invited for the benefit of our client’s Heritable interest in the property.A purchase at this level would provide a net initial yield of 6.10% and a guaranteed reversion to 6.90% following the 1 October 2018 rent review. The capital value at this price reflects a level of £357 per sq.ft (£3,843 per sq.m). All figures assume purchasers costs of 6.26%.

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