- No Commission
6 Almondvale Business ParkFavourite
6, Almondvale Way, Almondvale Business Park
EH54 6GA Livingston
30,670.00 ft² (2,849.34 m²)
10.48 Initial Yield
- Multi-let office investment opportunity in the town of Livingston.
- Prominent office building located in the well-established Almondvale Business Park, extending to 30,670 sq ft (2,849.34 sq m).
- Let to Bellway Homes, Nexperia UK Ltd and Energy Assets with an unexpired term of 8.27 years to expiry and 4.08 years to break.
- The building has been pro-actively managed and benefits from re-based rents. The total current passing rent of £269,472 per annum representing a low rate of £9.50 per sq ft.
- Asset management opportunities through letting vacant space and negotiating with existing tenants.
- Heritable tenure (Scottish equivalent of English Freehold).
Offers in excess of £2,250,000 are sought for our client's heritable interest in the property. A purchase of this level would provide the following yield profile:
- Net Initial Yield: 10.48%*
- Equivalent Yield: 9.55%
- Reversionary Yield: 12.23%
This equates to a low cap rate per sq ft of £73 assuming purchaser's costs at 5.87%.
* Triple net position following the deduction of vacant rates and service charge.