The subjects comprise a two storey property of steel frame construction under a sequence of pitched and profile sheet-clad roofs. The external elevations of the property are brickwork.
The property is contained within a site bounded by heras fencing. A new perimeter steel fence has been installed around the eastern elevation of the property where the car park is located. The car park is tarmac surfaced providing c. 26 spaces with an additional 10 spaces along the perimeter of the property front and rear.
Access is from a projecting porch entrance clad in stone. The premises comprise office accommodation over ground and first floors. The ground floor is arranged around the reception area with offices spanning either side. There is a small tea prep located behind the reception. Male and female toilets and a shower facility can also be found on the ground floor.
The first floor is accessed from a remodelled staircase. The first floor comprises office accommodation together with a generous kitchen incorporating seating. There is also access between floors from fire escape stairs. There is a second point of access / egress from the building at the car park elevation.
The office accommodation within the building has been refurbished. The refurbished offices are presented with new flooring, a mix of plaster and modular walls and suspended ceilings incorporating modern lighting. All of the windows to the offices have been replaced with double glazed uPVC framed windows. Within some of the offices there is modern partitioning incorporating glass.
Location
Grangemouth is a town in East Stirlingshire and is part of the Falkirk Council area of Scotland. The town lies in the Forth Valley, on the banks of the Firth of Forth, 3 miles east of Falkirk and 13 miles south east of Stirling and approximately 21 miles from both Glasgow and Edinburgh. Grangemouth has a resident population of approximately 18,000.
The town is very well located in the central belt of Scotland and is easily accessed from both Glasgow and Edinburgh via the M9 motorway being almost equidistant from both cities. The economy of Grangemouth is focused primarily on the large petrochemical industry of the area which includes the oil refinery, owned by Ineos, one of the largest of its kind in Europe. Grangemouth Port is one of the main ports in the UK with the largest container terminal in Scotland, with 9M tonnes of cargo handled through the dock facilities each year.
The subjects are located on the south side of a private road immediately at its junction with Laurieston Road within the town of Grangemouth. The subjects are positioned parallel to the freight railway line. Laurieston Road is accessed from the A904, which is one of the main industrial / commercial locations within Grangemouth and benefits from immediate access to J6 of the M9 motorway.
Surrounding occupiers include W H Malcolm, Thornbridge Sawmill, Skandia Trucks, United Wholesale, Evans Halshaw, Arnold Clark and CHP Equipment Pulling Systems.
Accommodation
Net Lettable Area: 4,343 sq ft (403.62 sq m)
Car Parking: 36 spaces
Terms
The vendor operates telephony and broadband services and recharges these to the Tenants.
The leases, excluding the British Red Cross, allow for annual review of the rent and service charge.
There is a Head Lease over the subjects between James Hay Pension Trustees Ltd (landlord) and Intellia Ltd (tenant). The lease is for a period of 15 years expiring 30 October 2020 and now running on Tacit. We envisage this lease shall be terminated at the point of sale, however, if there is merit in continuing with the current lease structure it can be assigned.
Business Rates:
Suites 1,2,3,10 - £13,050
Suites 4,4A - - £5,500
Suite 5 -- £15,00
Suite 6 - £1,750
Suite 7 - £3,600
Suit 8 - £2,500
suite 9 - 3,950
TENANCY SCHEDULE
See the attached brochure
Sale Price - We are seeking offers in excess of £350,000 excluding VAT for the investment, which provides a Net Initial Yield of 11.39% after allowing for the deduction of purchasers costs of 3.81%.
EPC - Band D.
VAT - The exemption to VAT has been waived, accordingly VAT will be applicable, however it is anticipated that any sale will be treated by way of a Transfer of a Going Concern (TOGC).
Anti Money Laundering Regulations - Under both HMRC and RICS guidance as property agents we are obliged to undertake AML diligence for both the purchasers and vendors (our client) involved in a transaction. As such, personal and or detailed financial and corporate information might be required before any terms are agreed or any transaction can conclude
Legal Costs - Each party to be responsible for their own legal costs and outlays including VAT incurred.