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6 Almondvale Business Park

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6, Almondvale Way, Almondvale Business Park
EH54 6GA Livingston
Ref: 13049

  • 30,670.00 ft² (2,849.34 m²)
  • 2,250,000
  • 10.48 Initial Yield

Description

Description

• Multi-Let Office Investment with Value Adding Opportunities

Investment Summary

  • 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.

Energy Rating

Energy Rating

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Contact

Contact
Janey Douglas
Simon Cusiter
  Details

JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:

  1. The particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
  2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
  3. No person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property;
  4. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken.

For properties in Scotland:

  1. This correspondence is expressly subject to completion of formal legal missives in accordance with Scots Law.

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