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Laurel House

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Laurelhill Business Park
FK7 9JH Stirling
Ref: 12151

  • 23,119.00 ft² (2,147.82 m²)
  • 1,750,000

Description

Description

• Highly Reversionary Multi-Let Office Investment With Value Adding Opportunities

Investment Summary

  • Multi-let office investment opportunity in the city of Stirling;
  • Prominent office building located in the well-established Laurelhill Business Park extending to 23,119 sq ft (2,147.83 sq m);
  • Let to Scottish Enterprise, Target Advisers LLP and Scottish Sea Farms with a weighted unexpired term of 3.58 years to expiry and 3.04 years to break;
  • Total current passing rent of £152,818 per annum representing a low average rate of £10.45 per sq ft. The net rent following vacant rates and service charge deductions is £86,651.30 per annum;
  • Asset management opportunities through letting vacant space and negotiating with existing tenants together with longer term potential redevelopment opportunities for alternative uses;
  • Heritable tenure (Scottish equivalent of English Freehold).

Offers in excess of £1,750,000 are sought for our client’s heritable interest in the property. A purchase at this level would provide the following yield profile:

Net Initial Yield 4.68%*

Equivalent Yield 8.74%

Reversionary Yield 12.28%

This equates to a low cap rate per sq ft of £75.70 assuming purchaser’s costs at 5.74%.

* Triple net initial yield position following the deduction of vacant service charge and vacant rates. Please note, we have estimated the vacant rates payable on ground floor as they are yet to be assessed.

Energy Rating

Energy Rating

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Contact

Contact
Janey Douglas
Simon Cusiter

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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