1 BUCHANAN GATEBUSINESS PARK

MULTI-LET OFFICE INVESTMENT

STEPPS, G33 6FB

INVESTMENT SUMMARY

Current income of

£116,935 pa

Excellent communication links. Well placed for access to all three major central belt cities; Glasgow, Stirling and

Edinburgh.

Offers in excess of

£1,000,00011.10% niy

after allowing for purchaser’s costs

Absolute Ownership(Scottish equivalent of

English Freehold)

Both tenants did notexercise recent break options, demonstrating commitment

to the location.

Multi-let to

+

AWULT of 6.34 years to expiry and 3.73 years to break

Strong local occupational market with very limited availability on the park.

Highly successful business park with high profile occupiers,

including: BAM, Scottish Water and Barratt Homes

Cushman & Wakefield 1 Buchanan Gate Business Park2

Planning permission for 30,000 sq ft office

< Glasgow City Centre

< Glasgow Airport

1 BUCHANAN GATE

J3 M8

Buchanan Business Park is situated adjacent to Junction 3 of the M80 motorway. The park benefits from excellent communication links and is within 10 minutes’ drive of Glasgow City Centre. Stepps railway station is within 10 minutes walking distance and provides regular services to Glasgow Queen Street and Cumbernauld. The M8, M73, & M74 motorways are within a few minutes’ drive of the Pavilions.

CITY MINUTES MILES

Glasgow 10 9

Edinburgh 50 45

Stirling 25 21

Perth 60 59

3Cushman & Wakefield 1 Buchanan Gate Business Park

The subject property comprises a two storey office pavilion, providing modern, open plan accommodation. The subjects provide on-site car parking provision totalling 30 car parking spaces, a ratio of one space per 336 sq ft. and benefits from the following specification:

• Raised access floors with 150mm clear void• VRV air conditioning system for building

heating & cooling• Fibre optic telecom connection• 2.7m clear floor to ceiling height• Suspended ceiling throughout• Full disabled access• 1 passenger lift

Excellent Amenities The property benefits from excellent local amenities including a Brewers Fayre family pub with children’s play area, an 80 bed Premier Inn hotel and a Bannatynes Health Club. Opposite the Business Park there is the Garfield House Hotel, a 47 bed Best Western Hotel. In addition there is a Co-Op supermarket situated within Stepps. Westerwood Golf & Leisure Centre is located a short distance from the Pavilions just off the A80 at Cumbernauld.

DESCRIPTION

Cushman & Wakefield 1 Buchanan Gate Business Park4

FLOOR TENANT AREASLEASESTART

LEASE EXPIRY

BREAKDATE

RENT REVIEW

RENTRENT PSF

COMMENTS

Ground

Aecom Ltd and Morrison Utility Services trading as The Caledonia Water Alliance

466.99 sq m5,027 sq ft 01/12/2014 30/11/2026 01/12/2020 01/12/2020 £50,960 £10.13

2017 break option not exercised. Subject to Schedule of Condition. Tenant entitled to 6 months rent free if break

option at 1 Dec 2020 is not exercised. Service charge capped at £30,576 pa, subject to annual RPI uplift.

Landlord’s current shortfall is £5,550.08 pa, to be topped up by vendor. Exclusive right to 15 car parking spaces.

FirstISG Construction Limited

470.42 sq m5,064 sq ft

28/02/2011 27/02/2021 – 10/10/2021 £65,975 £13.03

2017 break option not exercised. Service charge capped at £20,508.32 pa, subject to annual RPI uplift. Landlords

current shortfall is £15,440.60 pa, to be topped up by vendor. Exclusive right to 15 car parking spaces.

Total937.41 sq m10,091 sq ft

£116,935

TENANCYThe subject property has been measured on a net internal basis in accordance with the RICS Code of Measuring Practice (6th Edition) and approximate areas are as follows:

TENANT COVENANTThe Caledonia Water Alliance is a joint venture formed by Morrison Utility Services Ltd and Aecom Ltd to support the delivery of Scottish Water’s water infrastructure element of its capital investment programme. Aecom Ltd (01846493) has an Experian rating of 98, which represents “Very Low Risk”. Year-end accounts to 02 October 2015 reported:

TURNOVER PRE-TAX PROFIT NET WORTH

£257,474,000 £8,991,000 £8,726,000

Morrison Utility Services Ltd (04530602) has an Experian rating of 100, which represents “Very Low Risk”. Year-end accounts to 31 March 2016 reported:

TURNOVER PRE-TAX PROFIT NET WORTH

£613,966,000 £23,808,000 £ 150,213,000

ISG Construction Ltd are a construction services company specialising in fit out, technology, construction and development. Over 2,800 people are employed by the company in more than 23 countries. ISG Construction Ltd (00450103) has an Experian rating of 75, which represents “Below Average Risk”. Year-end accounts to 31 March 2015 reported:

TURNOVER PRE-TAX PROFIT NET WORTH

£533,330,000 £-8,204,000 £14,658,000

5Cushman & Wakefield 1 Buchanan Gate Business Park

MISREPRESENTATION ACT

Cushman and Wakefield LLP (and any joint agent appointed) on their own behalf and for vendors or lessors of this property, whose agents they are, give notice that: (i) These particulars are produced in good faith, but are a general guide only and do not constitute any part of a contract and must not be relied upon as statements or representations of fact. (ii) No person in the employment of the agent(s) has any authority to make or give representation or warranty whatever in relation to this property. (iii) the property is offered subject to contract and unless otherwise stated all rents and outgoings are stated exclusive of VAT (iv) Floor areas, measurements or distances given are approximate (v) Nothing in these particulars should be deemed a statement that the property is in good condition, or that any services or facilities are in working order. (vi) Unless otherwise stated, no investigations have been made regarding pollution, or potential land, air or water contamination. Interested parties are advised to carry out their own investigations as required. May 2017.

PROPOSALTENUREWe are instructed to seek offers in excess of £1,000,000 (One Million Pounds Sterling) subject to contract and exclusive of VAT for the Absolute Ownership. A purchase at this level would reflect a net initial yield of 11.10% after allowing for purchaser’s costs of 5.33% based on Scotland’s Land and Buildings Transaction Tax (LBTT).

CONTACT

Calum Cowe Tel: +44 (0) 131 222 4517 Email: calum.cowe@cushwake.com

Erin Mills Tel: +44 (0) 131 222 4564 Email: erin.mills@cushwake.com

The property is held Absolute Ownership (Scottish equivalent of English Freehold).

SERVICE CHARGEThe current service charge budget for the year ending 31st December 2017 is £72,075. Further details can be provided upon request.

EPCThe property currently has an ‘E’ rating. A copy of the energy performance certificate is available upon request.

VATThe property has been elected for VAT and therefore VAT will be payable on the purchase price. However, it is anticipated that the sale will be treated as a Transfer Of a Going Concern (TOGC).