GVA James Barr - Forrest Gate, Tannochside Business Park, Uddingston, G71 5PG gva.co.uk/7820
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GVA James Barr Freehold Business Park Investment Forrest Gate, Tannochside Business Park, Uddingston, G71 5PG gva.co.uk/7820
gva.co.uk/7820
Investment summary
• Office Investment guided at offers over
£1,500,000
• Prominent location close to the M74
and M8 Motorways.
• Total passing rent of £246,146.62 per
annum
• Attractive Net Initial Yield (inclusive
of purchasers costs) of 15.51% Triple
Net Yield (inclusive of current non
recoverables) of 10.89%
• Quality covenant profile.
• Tenants include Kwik Fit, Kwik Fit
Insurance, Hoover and Bright Horizons
Forrest Gate, Tannochside Business Park, Uddingston, G71 5PG
gva.co.uk/7820
Location Situation
Uddingston is a suburb of Glasgow, seven miles to the south-east of the city centre and The property is located in Tannochside Business Park, an established mixed use business park
approximately two miles east of the Glasgow City Council district of Broomhouse. The park location. The property benefits from excellent communication links and is in close proximity to
has a unique location adjacent to the A8 (M8 motorway), M73 motorway, M74 motorway the A8 (M8 motorway), M73 and M74.
and A725 Bellshill By-pass. This is the main motorway hub of the central belt of Scotland and
There are numerous major employers on site including B Sky B, Capita, Dalkia, Stewart Milne and ADT.
provides access in all directions. Regular bus services operate on the A752 and A721 serving
the local community. The business park is well served with parking spaces, and plots provide their own dedicated areas.
The town has a resident population of approximately 25,000.
Forrest Gate, Tannochside Business Park, Uddingston, G71 5PG
gva.co.uk/7820
Description
The subject premises comprise a detached two storey office The property has been sub-divided to provide a number of
building with single storey annex and associated parking suites however the specification is broadly similar with raised
constructed in the mid 1990’s. The main building is of steel access floors, VRV comfort cooling, plastered and painted
frame construction with extensive glazed curtain walling walls and acoustic tiled ceilings incorporating diffused
on the front elevation and profile metal cladding on the lighting.
remaining elevations beneath a shallow pitched roof.
The annex (Training Centre) is a separate building of
The main access to the building benefits from a large pre-fabricated construction, added in 1998, metal clad
double height reception area which also houses the externally below a shallow pitched roof.
service core, including male and female toilets, stair and
passenger lift.
Part of the building is let to three occupiers with part of the
ground and first floors remaining vacant.
Forrest Gate, Tannochside Business Park, Uddingston, G71 5PG
gva.co.uk/7820
Tenancy schedule Covenant Status
Kwik Fit (GB) Ltd has a D&B rating of 5A1.
Unit Tenant Area (sq ft) Income Lease
Kwik Fit Insurance has a D&B rating of 4A 1.
Start Expiry Break Review
Hoover has a D&B rating of 5A 1.
Office A Hoover Ltd 8,555 £72,229.62 26.02.2009 05.02.2024 26.02.2019 26.02.2019
(Ground), Bright Horizons has a D&B rating 2A 1.
C and D
(First Floors)
Training Kwik Fit 5075 £43,134.00 05.10.2006 04.10.2021 - 05.10.2016 Non recoverables
Academy Insurance
Service charge
Unit A Bright Horizons 6000 £68,400.00 19.09.2005 18.09.2025 19.09.2015 / 19.09.2015 /
(Ground Family Solutions 19.09.2020 19.09.2020 The current quarterly non recoverable service charge is
floor) Ltd £10,257.95
Unit B Kwik Fit (GB) Ltd 4055 £49,383.00 11.08.2007 10.08.2022 - 11.08.2017 Rates
(Ground and
First floors) The current rates payable liability is £131,832.90*
Unit C Vacant 27,634 - - - - - * This liability is current negated by the occupation of
Car Park Kwik Fit (GB) Ltd 40 Additional £13,000.00 01.02.2013 31.01.2014 - - registered Scottish Charity, Scotia-Aid Sierra Leone,
Licence Parking (Rolling) who occupy these premises on a licence agreement
Spaces whereby the landlord contributes £8082.11 per quarter
to the charity.
Total 51,319 £246,146.62
Copies of leases are available on request.
Forrest Gate, Tannochside Business Park, Uddingston, G71 5PG
gva.co.uk/7820
Tenure Proposal
Heritable under title number LAN174246 We have been instructed to seek offers over £1,500,000
(One million, five hundred thousand pounds).
VAT A purchase at this level reflects a net initial yield of 15.51%
and a Triple Net Yield of 10.89%.
We understand that the property is elected for VAT.
EPC
EPC rating 36 (C+). Further details and recommendations
available upon request.
BSkyB
Forest Gate
Lloyds TSB
Kwik Fit Insurance
Orange
Disclaimer Notice: The accuracy of any description, dimensions, references to condition, necessary permissions for the use and occupation and other details contained herein is not guaranteed and is for general guidance only. Prospective purchasers or tenants must not rely on
them as statements of fact and must satisfy themselves as to their accuracy. Neither GVA James Barr nor any of their employees, nor their joint Agents has any authority to make or give representation or warranty or enter into any contract whatever in relation to the property. Rents or
Prices quoted in these particulars may be subject to VAT in addition. The information provided is presumed to be correct at the time of print – March 2014
Forrest Gate, Tannochside Business Park, Uddingston, G71 5PG
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Published by GVA
10 Stratton Street, London W1J 8JR
©2014 Copyright GVA
GVA is the trading name of GVA Grimley
Limited and is a principal shareholder of
GVA Worldwide, an independent
partnership o f property advisers operating
globally gvaworldwide.com
For further information or to arrange an
inspection of the property, please contact
Johnathan Rose
GVA James Barr
0131 255 8000
jamie.thain@gvajb.co.uk
John Leatham
GVA James Barr
0131 469 6033
john.leatham@gvajb.co.uk
GVA Grimley Limited Conditions under which Particulars are issued 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:1.) 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.
2.) 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. 3.) 0131 255 8000
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. 4.) All rentals
and prices are quoted exclusive of VAT. Reproduced by courtesy of the Controller of HMSO. Crown Copyright reserved. Licence No 774359. If applicable, with consent of Chas E Goad,
Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only. March 2014. gva.co.uk/7820
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