40 Cambuslang Road – Investment Sale Brochure

GVA James Barr
Prime single
let industrial
distribution
investment
Hydrasun Limited,
40 Cambuslang Road,
Glasgow, G32 8NB
gva.co.uk/9188
gva.co.uk/9188
Investment Summary
• Single let industrial/distribution asset
within a well-established prime
industrial location.
• Located within 5 miles of Glasgow
city centre and adjacent to Junction
2A of the M74 motorway.
• Modern purpose built storage and
distribution facility extending to 2,591
sq m (27,891 sq ft).
• Recently let to Hydrasun Limited
until 27 September 2030 (break 27
September 2025).
• Passing rent of £174,319 per annum
exclusive (£6.25 per sq ft).
• Offers in excess of £2.27 million.
• Net initial yield of 7.25%.
Hydrasun Limited, 40 Cambuslang Road, Glasgow, G32 8NB
G32 8NB
gva.co.uk/9188
To Glasgow City Centre
7
M74
6
40 Cambuslang
Road, Glasgow
3
2
J2A
16
15
1
14
13
11
4
12
9
5
To the South
8
10
1.
2.
3.
4.
5.
6.
Booksource
UK Mail
Encon Insulation
Parcelforce
M&H Couriers, Righton
Excel Tradeteam
7.
8.
9.
10.
11.
12.
BOC
Cleveland Cable Company
CCG
Batleys
Norit
B&Q
13.
14.
15.
16.
Speedy
Scottish Power
Spicers
CCG
Hydrasun Limited, 40 Cambuslang Road, Glasgow, G32 8NB
gva.co.uk/9188
Location
M90
Cambuslang is considered a 100% prime industrial location
within the central belt region of Scotland. This is principally
due to its exceptional links to the M74 motorway and the wider
motorway network, coupled with direct access to Glasgow city
centre fuelling occupier demand.
M9
M9
Glasgow
Junctions 1 & 2 of the M74 are situated less than 1 mile from the
subject property whilst Glasgow city centre is within 5 miles to
the North West. Accessibility to the city centre has been further
enhanced with the M74 extension reducing drive times as a
consequence of improved traffic flows to around 5 minutes.
M8
M8
Cambuslang
M77
“The strength of the location is further enhanced by the
reduction of industrial stock in the immediate vicinity due in
part to the CPOs in connection with the M74 Extension and
those associated with the development of the Commonwealth
Games Village. There are currently extremely low levels of
industrial availability in the location.”
Edinburgh
M74
Drive Times
Glasgow Airport
15 minutes
Edinburgh
45 minutes
The area has access to a catchment population in excess of 1
million people within the Greater Glasgow conurbation and a
catchment of 2.5 million within West Central Scotland.
Hydrasun Limited, 40 Cambuslang Road, Glasgow, G32 8NB
GLASG
OW
40 Cambuslang Road,
Glasgow, G32 8NB
25 Coddington
Crescent
ILL
R
EUROCENTRALOAD
JUNCTION
ROAD
The property occupies a prominent position within Gateway
Glasgow on Cambuslang Road next to the Fullarton Road
roundabout. The Gateway Glasgow development has
attracted a number of high profile occupiers including BP,
Excel Tradeteam, Parcelforce, UK Mail, Encon Insulation, BOC
and Mansell Construction services. Over 500,000 sq ft of
accommodation has already been developed on the park in
the form of high quality industrial/distribution and office space.
ESM
RL AND
Situation
G32 8NB
CL
YD
M8
EDIN
I VE
5 minutes
DR
M8 Motorway
CAMBE
5 minutes
DE
RIVER CLY
Glassgow City Centre
SMIL
CLYDE
L
BURG
H
gva.co.uk/9188
0m
Site Area
The property comprises a detached modern industrial
warehouse of steel portal frame construction, comprising:
main warehouse, 2 storey offices, yard and parking areas. A
refurbishment of the property has just been completed ready for
the new tenants occupation.
The subjects extend to approximately 2.123 acres (0.86
hectares).
The warehouse, elevations and roof are of profile metal cladding
and the unit benefits from an eaves height of 7 metres. In
addition the unit benefits from 4 ground level access doors, high
density lighting and, translucent roof lights.
The property is let to Hydrasun Limited from 24 September 2015
until the 27 September 2030. There is a tenant option to break on
the 27 September 2025 subject to 12 months prior written notice.
The annual rent is £174,319 per annum (£6.25 per sq ft).
Within the office element there is a mix of open plan and cellular
offices, conference rooms and WCs. The offices benefit from
suspended tile ceilings with Cat 2 lighting inset, wall mounted
radiators and double glazed aluminium framed windows.
A photographic schedule of condition is attached to the lease
recording the condition of the property at the start of the lease.
The landlord has undertaken a number of refurbishment works to
the property in anticipation of this and a schedule of these works
can be provided to interested parties.
8
75m
In addition, expansion land to the rear of the property provides
the ability to extend the building and/or yard in the future.
50m
There is CCTV servicing the entire property and a secure
concrete yard to the rear incorporating a security barrier.
Tenancy
25m
Description
Tenure
Heritable (Scottish equivalent of English Freehold).
Accommodation
The property provides the following approximate gross
internal areas:-
Office – First Floor
Office – Second Floor
2,157.02
23,218
276.39
2,975
157,75
1,698
2,591.16
27,891
40
50
El
Sub
Sta
Warehouse
(sq ft)
D
G ROA
Warehouse
(sq m)
Hydrasun Limited, 40 Cambuslang Road, Glasgow, G32 8NB
N
USLA
Accommodation
gva.co.uk/9188
Covenant Information
Hydrasun Limited (Company No: SCO59688) established in 1976, is a leading provider of integrated fluid transfer, power and control
solutions to the energy, petro chemical, marine and utilities industries worldwide. As of 31 March 2014, Hydrasun Limited had a Dun
& Bradstreet rating of 5A1 and reported the financial results below.
Fiscal
Consolidated GBP
31 Mar 2014
(000’s)
Fiscal
Consolidated GBP
31 Mar 2013
(000’s)
Fiscal
Consolidated GBP
31 Mar 2012
(000’s)
120,890
104,666
84.246
Profit / (Loss) Before Taxes
16.994
16,216
10,136
Tangible Net Worth
69,552
58,188
44,857
Net Current Assets (Liabilities)
64,901
54,232
41,885
Hydrasun Limited
(Company No: SC 59688)
Sales Turnover
G32 8NB
Hydrasun Limited, 40 Cambuslang Road, Glasgow, G32 8NB
gva.co.uk/9188
Energy Performance
Certificate
The property has an EPC rating of C+. A copy of the EPC
isavailable upon request.
VAT
The property has been elected for VAT purposes and VAT is
chargeable on the rent. VAT is payable over and above the
purchase price, however, we envisage that any sale will be
conducted by way of a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek offers in excess of £2,270,000 (Two
Million Two Hundred and Seventy Thousand Pounds) exclusive.
A purchase at this level would reflect a Net initial yield of 7.25%
after taking account of acquisition costs and LBTT.
Hydrasun Limited, 40 Cambuslang Road, Glasgow, G32 8NB
London
Birmingham
Bristol
Cardiff
Dublin
Edinburgh
Glasgow
Leeds
Liverpool
Manchester
Newcastle
Published by Bilfinger GVA
65 Gresham Street, London EC2V 7NQ
©2015 Copyright GVA
Bilfinger GVA is the trading name of
GVA Grimley Limited and is a principal
shareholder of GVA Worldwide Limited
an independent partnership o
f property
advisers operating globally. Bilfinger GVA is
a Bilfinger Real Estate company.
Further Information
Viewing is by appointment only.
For further information regarding this
opportunity please contact.
Jamie Thain
jamie.thain@gvajb.co.uk
0131 469 6011
07798 647 620
GVA James Barr is a trading name of GVA Grimley limited, conditions under which particulars are issued by GVA Grimley Limited for themselves, for any joint agents and for
the vendors or lessors of this property whose agents they are, give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchases
or lessors and do not constitute, nor constitute part of, an offer or contract. (ii) all descriptions, dimensions, references to condition and necessary permission for use and
occupation, and other details, are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or
representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. (iii) no person in the employment of GVA Grimley Limited or any
joint agents has any authority to make or give any representation or warranty whatever in relation to this property. (iv) all rentals and prices are quoted exclusive of VAT
0131 255 8000
gva.co.uk/9188
10578 TN
Will Sandwell
will.sandwell@gvajb.co.uk
0131 469 6011
07801 266 373