LOCH PORTFOLIO - Allsop€¦ · ~ The portfolio comprises a trade counter, distribution warehouse,...

LOCH PORTFOLIOLOCH PORTFOLIO

The Loch Portfolio offers an excellent opportunity to purchase a well balanced mixed use portfolio comprising 9 individual assets strategically located in core commercial locations across Scotland.

LOCH PORTFOLIO

SAINT-GOBAIN, 300, CROWNPOINT ROAD, GLASGOW, G40 2UJ

HALFORDS, ST MICHAELS BRIDGE ROAD, DUMFRIES, DG1 OJE

1 & 2, THUNDERTON PLACE, ELGIN, IV30 1LY

THE PROPERTIES

102, ARGYLE STREET, GLASGOW, G2 8AHYODEL, 4, ROSEHALL ROAD, BELLSHILL, NORTH LANARKSHIRE ML4 3NR

NEXT, 117-119, HIGH STREET, DUNFERMLINE, KY12 7DR

ALLAN HOUSE, 21-25 BOTHWELL STREET, GLASGOW, G2 6NL LAUREL HOUSE, STIRLING, FK7 9JQ

109-113 SAUCHIEHALL STREET, GLASGOW, G2 3DD

LOCH PORTFOLIO

INCOME BY LOCATIONINVESTMENT CONSIDERATIONS

INCOME BY SECTOR

% NATIONAL COVENANTS

TOP 5 TENANTS BY INCOME

11%

12%

14%

10%

9%

n Retailn Industrialn Officen Trade Countern Restaurant

36%

12%28%

17%

7%

n Glasgown Dunfermlinen Bellshilln Elginn Dumfriesn Stirling

12%

10%

13% 11%

12%

43%

n Nationaln Non National

17%

83%

~ Well balanced mixed use portfolio comprising 9 individual assets strategically located in core commercial locations across Scotland.

~ The portfolio comprises a trade counter, distribution warehouse, 2 office and 5 retail/retail warehouse units totalling 261,836 sq ft (24,325 sq m) of which 50,618 sq ft (4,702.5 sq m) is A1 retail accommodation.

~ All properties held on Heritable (Freehold) interests.

~ The portfolio is let to 13 tenants generating a total income of £2,267,311 per annum, reflecting modest £8.66 psf overall.

~ Future fixed rental increases in 2017 and 2022.

~ Strong tenant profile including: Yodel Delivery Network Limited, Saint-Gobain Building Distribution, Halfords Limited, Next Plc, Everything Everywhere Limited (EE), Hutchison 3G UK Limited (Three Mobile) and Bank of Scotland Limited.

~ Attractive average weighted unexpired lease term (AWULT) of 6.37 years to expiry and 5.32 year to breaks.

~ Low vacancy rate of 4.53% with good historic tenant retention.

~ 83% of the income secured against national covenants with 45% secured to tenants with a 5A1 D&B rating.

~ Multiple active asset management opportunities throughout the portfolio.

~ We are seeking offers in excess of £25,000,000 (Twenty Five Million Pounds) subject to contract and exclusive of VAT. A purchase at this level provides an attractive net initial yield of 8.53% (after allowing for standard purchasers costs in Scotland).

n Nextn Yodeln Saint Gobainn Target Advisorsn Scottish Enterprise

LOCH PORTFOLIOTENANCY SCHEDULE

TENANCY SCHEDULE

M1

M11

M25M25

M25

M40

M40

M42

M50

M48

M32

M27

M23M20M2

M6 TollM54 M42M69

M1

M1

M6

M6

M6

M6M5

M5

M5

M4M4M4

M3

M62M62

M65

M60

M56M56

M58

M53

M55

M66M18

A1(M)

A1(M)

A3(M)

A74(M)

A1(M)

A1(M)

M180

M74

M77

M8M8

M9M80

M90

M73

A1(M)

DUMFRIES

ELGIN

BELLSHILL

STIRLINGDUNFERMLINE

GLASGOW

Town/ City Address Area (sq ft)

No of Tenants

Current income AWULT % of income

Vacancy by Area£pa £psf (£ ITZA) Breaks Expiry

GlasgowSaint-Gobain, 300, Crownpoint Road, G40 2UJ

89,452 1 £286,246 £3.20 11.6 11.6 12.74% 0%

BellshillYodel, 4 Rosehall Road, North Lanarkshire ML4 3NR

53,077 1 £275,000 £5.18 4.91 9.91 12.23% 0%

Glasgow 102, Argyle Street, G2 8AH 1,602 1 £160,000 (£150) 4.12 4.12 7.12% 0%

Glasgow109 - 113 Sauchiehall Street, G2 3DD

1,112 1 £111,500 (£130) 2.84 7.84 4.96% 0%

Dunfermline117 - 119 High Street, KY12 7DR

13,398 1 £216,000 (£71.50) 5.65 5.65 9.61% 0%

Dumfries St Michaels Bridge Road, DG1 0JE 15,400 1 £192,479 £12.50 5.8 5.8 8.56% 0%

Elgin1&2 Thunderton Place, IV30 1LY

34,506 2 £235,000 £6.81 7.54 7.54 10.45% 0%

GlasgowAllan House, 21 - 25 Bothwell Street, G2 6NL

30,777 2 *£521,478 £16.94 4.12 4.77 21.22% 37%

StirlingLaurel House, Laurelhill Business Park, FK7 9JQ

22,502 3 £269,608 £11.98 0.92 1.37 12.00% 0%

261,836 13 £2,267,311 £8.66 5.32 6.37 100% 4.53%

*Inclusive of rental guarantee.

LOCH PORTFOLIOSAINT-GOBAIN, 300, CROWNPOINT ROAD, GLASGOW, G40 2UJ

Bellgrove

Bridgeton

Duke Street

GlasgowGreen

Glasgow GreenFootball Centre

Celtic Park

The People’s Palace& Winter Garden

Abe

rcro

mby

Str

eet

Alm

a St

Crownpoint Road

The Green

Main S

treet

James Street

Tullis Street

Duke Street

Duke Street

Duke Street

Gallowgate

Orr S

treet

Broad StreetFordneuk Street

Brook S

treet

Avenue Street

Barrowfield Street

B763

Du

nn

Str

eet

B76

3 F

ield

en S

tree

tB

763

Mill

ers

ton

Str

eet

A89 Gallowgate

A89 Bigger Street

A89 Shettleston Road

A728

C

lyd

e G

atew

ay

A749 London Ro ad

A749

A74 London Road

A74

A

rcad

ia S

treet

JEWSON

© Crown Copyright, ES 100004106

LOCATION

Glasgow is the largest city in Scotland with a resident population of approximately 610,000 people and a wider catchment population in the region of 2.5 million. The City forms the principal commercial area in the central belt and west coast of Scotland with key employment sectors including; retail, banking, financial services, public administration, education and tourism.

The City benefits from excellent transport communications, with the M8 motorway providing access to the national motorway networks via the M74 and M77. The City has two main railway stations which link Glasgow to other key cities across the United Kingdom, with the International Airport located 9 miles to the west of the city centre, accommodating 30 airlines and providing regular domestic, European and transatlantic flights.

TENURE

Heritable (Freehold)

SITUATION

The Property is situated approximately 1.2 miles east of Glasgow city centre. The Property occupies a prominent corner location on the junction with Crownpoint Road and Fielden Street. The M8 Motorway is located approximately 1.7 miles north of the Property with the M74 approximately 1.8 miles to the south. The immediate area forms an established commercial location which includes Forge Retail Park and Shopping Centre 0.1 miles to the north and Celtic Football Club 0.2 miles to the east. Surrounding notable occupiers include; ASDA, Argos, B&Q, Tool Station and Sports Direct.

SITE AREA

The site area totals 1.735 ha (4.287 acres), which provides a site cover of 43.06%.

AWULT

AWULT to expiry of 11.6 years (certain).

DESCRIPTION

The property comprises a warehouse with ancillary office and trade counter accommodation arranged over ground and part first floor levels. The property has been subdivided into two sections with a large warehouse including trade counter accommodation to the south and a two storey office building with part warehouse and part trade counter at ground floor level.

The warehouse accommodation benefits from multiple roller shutter door access and a minimum eaves height of 5 metres. The office accommodation includes predominantly suspended ceilings with fluorescent tube lighting and wall mounted electric heaters.

The property benefits from a large secure yard to the south of the property incorporating car parking with open storage and 105 car spaces to the north of the property.

COVENANT INFORMATION

Saint-Gobian Building Distribution Limited

D & B Rating: 5A1

Experian Risk Disk: Very Low Risk

Saint-Gobian Building Distribution Limited for the year ending 31/12/2013 reported a turnover of £623,912,000, a pre-tax profit of -£39,426,000 and a total net worth of £137,991,000.

Tenant Lease Start Lease Expiry Next Review Area (sq ft) Current Income £p.a

Rent (£psf)

ERV £p.a

ERV £psf

Comments

Saint-Gobain Building Distribution Ltd

06-Apr-07 05-Apr-27 06-Apr-17 89,452 £286,246 £3.20 £323,861 £3.62 The lease is subject to 5 yearly rent reviews based on 2.5% annual increases (compounded). The rent will therefore rise to £323,861 p.a. in 2017.

Total 89,452 £286,246 £3.20 £323,861 £3.62

TENANCY SCHEDULE

LOCH PORTFOLIOYODEL, 4, ROSEHALL ROAD, BELLSHILL, NORTH LANARKSHIRE ML4 3NR

Bellshill

Ham

ilton

Roa

d

Gartcosh Walk

Gartcosh Walk

B707

Bel

grav

e S

tree

t

New Edinburgh Road

Mossb

ell Ro

adOld Edinburgh Road

Hat

to

nrigg Road

Motherw

ell Road

Pit

Roa

d

Cubitt Ct

Main Street Main Street Main Street

Reema RoadKenilw

orth Cres

Ma

visb

ank

Gar

dens

Lark

in W

ay

Cla

rk W

ay

Bel

gow

en S

tree

t

Hunity A

venue

Hilltop Avenue

Locket Yett View

Mel

ford

Roa

d

Earn Avenue

Jam

es S

tree

t

Fyne Avenue

Sholto Cres

W E

nd D

rive

Bellvue C

rescent

G lebe Street

Inchinnan Road

A775

A775

A725

A725

A725

A

725

A72

5


LOCATION

Bellshill is an established commercial town located in North Lanarkshire, approximately 10 miles south east of Glasgow city centre and 37 miles west of Edinburgh. The A725 runs directly through Bellshill leading north to the M8 (Junction 7) and south to the M74 (Junction 5), both within a 5 minute drive of the town centre.

Hamilton Central railway station is located approximately 4.5 miles south of the Bellshill which provides regular services to Glasgow Central with a fastest journey time of 25 minutes. Glasgow International Airport is located within a 25 minute drive of Bellshill town centre providing regular Domestic, European and Transatlantic flights.

TENURE


SITUATION

The property is situated on Rosehall Road within the established Bellshill Industrial Estate, approximately 0.5 miles west of the A725 which provides direct access to the M8 and M74 Motorways.

The immediate area consists of predominantly industrial accommodation being particularly popular with the automotive and distribution sectors due to its transport communications and supply of large warehouse accommodation. Surrounding notable occupiers include; Easy Space Self-Storage, Howdens Joinery, Man Trucks and DHL.

SITE AREA

The site area totals 2.219 ha (5.484 acres), which provides a low site cover of only 24.73%.

DESCRIPTION

The property comprises a modern self-contained detached distribution warehouse over ground floor level with two storey office and ancillary accommodation to the front of the property. The warehouse accommodation is regular in shape and benefits from 83 ground level loading bays and a minimum eaves height of 6.85 metres (22.6 ft).

The property benefits from a large, secured yard which circulates the unit with visitor/ staff car parking to front elevation and overnight HGV parking the rear of the site.


Yodel Delivery Network Limited

D & B Rating: 5A1

Yodel Delivery Network Ltd (5A1 D&B) for the year ending 30/06/2014 reported a turnover of £384,999,000, a pre-tax profit of -£72,934,000 and a total net worth of £51,780,000.

Tenant Lease Start Lease Expiry Active Break Next Review Area (sq ft) Current Income £p.a

Rent (£psf)

ERV £p.a

ERV £psf

Yodel Delivery Network Limited 01-Oct-90 01-Aug-25* 01-Aug-20 01-Aug-15 53,077 £275,000 £5.18 £276,000 £5.20

Total 53,077 £275,000 £5.18 £276,000 £5.20

TENANCY SCHEDULE

*The lease was extended in April 2014.

LOCH PORTFOLIO102, ARGYLE STREET, GLASGOW G2 8AH


LOCATION


The City benefits from excellent transport communications, with the M8 motorway providing access to the national motorway networks via the M74, M8 and M77. The City has two main railway stations which link Glasgow to other key cities across the United Kingdom, with the International Airport located 9 miles to the west of the city centre, accommodating 30 airlines and providing regular domestic, European and transatlantic flights.

TENURE


SITUATION

The property occupies a prime retail pitch in Glasgow city centre on a pedestrianised section of Argyll Street adjacent to the entrance of Argyll Arcade. Argyle Street, along with Buchanan Street and Sauchiehall Street forms Glasgow’s ‘Golden Z’ shopping area, attracting national retailers and prime Zone A rents of £150 psf. Notable retailers in the immediate vicinity include; Debenhams, Next, Nike, Vodafone, Santander, Hermes and WH Smiths.

The subject property is situated within 0.1 miles of Glasgow Central railway station as well as benefiting from numerous bus services providing links around the city centre and outer Glasgow.


Hutchison 3G UK Limited

D & B Rating: N1

Hutchison 3G UK Limited (N1 D&B) for the year ending 31/12/2013 reported a turnover of £2,041,882,000 and a pre-tax profit of £166,484,000.

DESCRIPTION

The property comprises a prime retail unit arranged over basement, ground and first floor level.

The ground floor comprises open plan retail accommodation with a return glazed frontage on to Argyle Street and the popular Argyll Arcade. The basement level comprises storage/ ancillary accommodation which is accessed via to the rear of the unit. The first floor is accessed via a stairwell to the rear of the retail accommodation and comprises office/ ancillary accommodation as well as separate male and female toilet facilities.

Tenant Lease Start Lease Expiry Next Review Area sq ft (ITZA)

Current Income £p.a

Rent £psf (£ ZA)

ERV £p.a ERV £psf (£ ZA)

Hutchison 3G UK Limited 20-Oct-99 19-Oct-19 - 1,602 (990)

£160,000 £99.88(£150)

£160,000 £99.88(£150)

Total 1,602 (990)

£160,000 £99.88(£150)

£160,000 £99.88(£150)

TENANCY SCHEDULE

LOCH PORTFOLIO109-113 SAUCHIEHALL STREET, GLASGOW, G2 3DD


LOCATION



TENURE


SITUATION

The Property occupies a prime retail pitch on Sauchiehall Street, one of Glasgow’s prime retail locations which along with Argyle Street and Buchanan Street forms Glasgow’s ‘Golden Z’ shopping area achieving prime Zone A rents and attracting a high concentration of national retailers. The subject property is situated on pedestrianised section of Sauchiehall Street benefiting from excellent footfall from both Hope Street and Buchanan Street. The immediate area is characterised by strong national retailers benefiting from a high foot fall, including; McDonalds, USC, Specsavers, Greggs, Holland & Barrett and Vodafone.

The subject property is located within a 10 minute walk of Glasgow Central Station as well as benefiting from numerous bus services providing links around the city centre and outer Glasgow.

AWULT

AWULT to expiry of 7.84 years and 2.84 years to break.

DESCRIPTION The Property comprises a prime retail unit arranged over ground and first floor levels.

The Property provides high quality, open plan retail accommodation on ground floor level with a large glazed frontage onto Sauchiehall Street with a recessed customer entrance. To the rear of the ground floor is a small office currently being used as a safe and server room. To rear of the retail accommodation is a stairwell providing access to the first floor which comprises office/ancillary accommodation as well as separate male and female toilet facilities.

COVENANT INFORMATIONEverything Everywhere Limited

D & B Rating: N1


EE Limited for the year ending 31/12/2014 recorded a turnover of £6,327,000,000, a pre-tax profit of -£255,000,000 and a total net worth of -£868,000,000.

Tenant Lease Start Lease Expiry Active Break Next Review Area sq ft (ITZA)


Rent £psf (£ ZA)


Everything Everywhere Limited 11-Jul-13 10-Jul-23 11-Jul-18 11-Jul-18 1,112(858)

£111,500 99.38(£129.95)

£111,540 £100.00 (£130.00)

Total 1,112(858)

£111,500 99.38(£129.95)

£111,540 £100.00 (£130.00)

TENANCY SCHEDULE

LOCH PORTFOLIONEXT, 117-119, HIGH STREET, DUNFERMLINE, KY12 7DR


LOCATION

Royal Borough of Dunfermline is an attractive town in Fife located approximately 19 miles north west of Edinburgh and 22 miles east of Stirling. The town forms the retailing, financial and administrative centre for the Fife Council area with key employers including; Lloyds Banking Group, The Royal Bank of Scotland, The Ministry of Defence, Shell UK Limited and BSkyB.

The town benefits from good transport communication with Junction 3 and 2 of the M90 both located within 2 miles to east and south of the town centre respectively. Dunfermline Town railway station is located centrally within Dunfermline and provides regular services to Edinburgh Waverley Station and Glasgow Central with a fastest journey time of 35 minutes and 1 hour 30 minutes respectively.

TENURE


SITUATION

The property occupies a prime position on Dunfermline High Street located centrally within the town centre on a pedestrianised area immediately south of Kingsgate Shopping Centre. The High Street and Kingsgate Shopping Centre form the prime retail thoroughfares in Dunfermline achieving Zone A rents of £75-£80 psf and attracting destination retailers including; Primark, Marks & Spencers, WH Smiths and Sports Direct.

Kingsgate Shopping Centre provides the main car parking facilities for shoppers within the town centre, providing direct access to the high street and the subject property.

AWULT


DESCRIPTION

The property is arranged over basement, ground and two upper floors providing a prominent double fronted retail unit with associated office and ancillary accommodation.

The retail accommodation is arranged over ground and first floor levels with access to the first floor sales areas via a prominent staircase located at the front of the retail accommodation and a passenger lift to the rear of the property. Ancillary/office accommodation is provided at basement, part ground floor, part first floor and second floor levels with separate male and female toilet facilities.


Next Group Plc

D & B Rating: 5A1


Next Group Plc for the year ending 24/01/2015 recorded a turnover of £202,200,000, a pre-tax profit of £139,400,000 and a total net worth of £772,700,000.

Tenant Lease Start Lease Expiry Next Review Area sq ft (ITZA)


Rent £psf (£ ZA)


Next Group Plc 03-May-11 02-May-21 03-May-16 13,398(3,021)

£216,000 £16.12 (£71.50)

£226,575 £16.91 (£75.00)

Total 13,398(3,021)

£216,000 £16.12 (£71.50)

£226,575 £16.91 (£75.00)

TENANCY SCHEDULE

LOCH PORTFOLIOST MICHAELS BRIDGE ROAD, DUMFRIES, DG1 OJE

River Nith

River Nith

River N

ith

Troqueer Rd

Troqueer Rd

Rotchell Park

Rotch

ell P

ark

Church St

Rotchell Road

Welldale

Conno

lly C

ourt

Ryedale R

oad

Dockhead

Whitesands

Bank Street

Irish Street

Shakes

pear

e S

tree

t

St Michael Street

St Michael Street

Burns St

Clerk hill

Queen Street Queen Street

Brooke Street

Glebe Street

Gle

be S

tree

t

Barn

Sla

ps

Henry

Stre

et

Cress

wel

l Hill

Lindsay Terrace

Craigs Road

Rob

inso

n D

rive

Averill Crescent

Corbelly H

ill

Brewery Street

High S

treet

Church Street

A756 P

leasa

nce Avenue

A756

A756

Broom

s Roa

d

A756


LOCATION

Dumfries is an attractive market town located in south west Scotland, approximately 76 miles south of Glasgow, 80 miles south west of Edinburgh and 34 miles north of Carlisle. The town is situated on the A75, A76 and A701 which links the town with the M74 and national motorway network. Dumfries is regarded as the retail, commercial and administrative centre for Dumfries and Galloway which has a total population of approximately 180,000 people. The town is formed around the River Nith with the main commercial development following the river edge through the town.

Dumfries railway station is located to the north of the town centre and provides regular services to Carlie and Glasgow with fastest journey times of 38 minutes and 1 hour 40 minutes respectively. Dumfries railways station also provides two daily services to Newcastle with a fastest journey time of 2 hours 5 minutes.

TENURE


SITE AREA

The site area totals 0.531 ha (1.313 acres), which provides a low site cover of only 27.95%.

SITUATION

The property occupies a large site on the south bank of the River Nith on the A756 (St Michaels Bridge Road) linking the subject property north to the town centre and M74. The property is situated on the edge of the main commercial centre of Dumfries in a mixed residential and retail area. The area to the south of the property is characterised by an affluent residential area providing the main educational and recreational facilities within the town. Adjacent the southern boundary of the site are industrial buildings comprising automotive businesses.

AWULT


DESCRIPTION

The property comprises a modern retail warehouse unit providing open plan retail accommodation with storage and office accommodation over ground floor level. The retail accommodation, which has recently been refurbished, benefits from a glass fronted customer entrance way to the front elevation and a minimum eaves height of 7.5 metres. The property includes a separate car servicing/ MOT garage to the rear of the unit benefiting from 7.7 metre eaves, car servicing pits and two automated roller shutter doors.

The property benefits from a large parking area comprising a total of 67 designated spaces reflecting a ratio of 1:194 sq ft.


Halfords Limited

D & B Rating: 5A1


Halfords Limited for the year ending 28/03/2014 recorded a turnover of £803,100,000, a pre-tax profit of £86,200,000 and a total net worth of £548,000,000.

Tenant Lease Start Lease Expiry Next Review Area (sq ft) Current Income £p.a

Rent (£psf)

ERV £p.a

ERV £psf

Halfords Limited 24-Jun-01 23-Jun-21 24-Jun-16 15,400 £192,479 £12.50 £192,479 £12.50

Total 15,400 £192,479 £12.50 £192,479 £12.50

TENANCY SCHEDULE

LOCH PORTFOLIO1 & 2, THUNDERTON PLACE, ELGIN, IV30 1LY


LOCATION

Elgin is the administrative and commercial centre of Moray district located on the Moray Firth to the north east of Scotland, approximately 40 miles east of Inverness and 64 miles north west of Aberdeen. The town is situated on the A96 (Aberdeen/Inverness Road) and the A941 which links to the A95 approximately 11 miles to the south, in turn providing access to the south of Scotland.

The town sits in the world famous Speyside Whisky Country which along with the Cairngorm National Park and Malt Whisky Trail makes the town a popular tourist destination. The town has a large commercial offering built around the tourism, administration and retail sectors which has led to high local catchment population of 142,000 people.

Elgin railway station is located centrally within the town to south of the main commercial centre, adjacent Springfield Retail Park. The station provides regular services to both Aberdeen and Inverness, with fastest journey times of 1 hour 30 minutes and 49 minutes respectively.

AWULT


TENURE


SITUATION

The Property occupies a prominent position on Thurderton Place, just off Elgin High Street forming part of the prime retail offering within in the town centre. The immediate area comprises predominantly retail accommodation with an affluent residential area to the south. The property is situated adjacent to one of the main public parking facilities in town centre serving the High Street and wider retailing area, generating a high footfall.

The subject property, High Street and the nearby St Giles Shopping Centre represents the main retail thoroughfare within the town and houses a mixture of multiple and local retailers including; M&S, Ladbrokes, Vodafone, WH Smiths and Boots.

DESCRIPTION

The Property comprises a large, modern, purpose built retail unit with ancillary office accommodation over ground and first floor levels. The Property has been subdivided into two separate retail units which both benefit from excellent return frontage on to Thunderton Place. The units are accessed via a communal entrance lobby which is shared between the subject units only. A large multi-storey car park to the rear of the unit (not part of the subject demise) generates high volume footfall from local shoppers using the High Street.

TK Maxx occupies the larger of the two units which comprises open plan retail accommodation over ground floor level. A corridor connects the retail space to a loading area and stock room on the ground floor and further staff and ancillary accommodation on the first floor. Pound Stretcher occupies the smaller unit which provides open plan retail accommodation with a loading bay and ancillary accommodation over ground floor level.

Unit Tenant Lease Start Lease Expiry Next Review Area (sq ft) Current Income £p.a

Rent (£psf)

ERV £p.a

ERV £psf

NBC Apparel t/a TK Maxx 31-Aug-04 30-Aug-24 31-Aug-19 27,636 £150,000 £5.43 £165,800 £6.00

Poundstretcher Ltd 01-Sep-05 31-Aug-20 31-Aug-15 6,870 £85,000 £12.37 £82,440 £12.00

Totals 34,506 £235,000 £6.81 £248,240 £7.20

TENANCY SCHEDULE


NBC Apparel t/a TK Maxx

D & B Rating: 5A1


TK Maxx for the year ending 01/02/2014 recorded a turnover of £71,709,000, a pre-tax profit of £173,000 and a total net worth of £4,388,000.

Poundstretcher Ltd

D & B Rating: N2

Experian Risk Disk: Below average risk

Poundstretcher for the year ending 31/03/2014 recorded a turnover of £395,360,000, a pre-tax profit of £1,347,000 and a total net worth of -£3,361,000.

LOCH PORTFOLIO

USt. Enoch

UBuchanan

Street

UCowcaddens

U

St. GeorgesCross

Anderston

CharingCross

QueenStreet

GlasgowCentral

High Street

Argyle Street

SighthillPark

Trongate

Argyle Street

Cochrane Street

St. Vincent Pl

St. Vincent Street

York

Str

eet

Wes

t Cam

pbel

l Stre

etBath Street

Cathedral Street

Nor

th H

anov

er S

tree

t

Queen S

treet

Hop

e S

tree

t

Bothewell Street

Waterloo Street

Jam

es W

att S

tB

lyth

swoo

d S

tree

tR

ose

Str

eet

Sauchiehall Street

Cowcaddens Road

West Graham Street

Ingram Street

Woodlands Road

Duke Street

George Street

West George Street

A804 North Street

A814 Stobcross Street

Bridgegate

A814 Clyde Street

A814 Broomielaw

A814 Anderston QueyA

8 S

altm

arke

t

A8

High

Stre

et

A8

C

astle

Str

eet

A89 Gallowgate

A749 Lon don Road

A803

S

prin

gbur

n Ro

ad

A804 Newton Street

A804

St. G

eorg

e’s R

oad

A804 Dobbie’s Loan A804 Baird Street

A82

A8 Paisley Road West

Brid

ge S

treet

Clyde Place

A8 West Street

Morrison Street

A40

M8

ALLAN HOUSE


LOCATION



TENURE


SITUATION

The property occupies a prominent corner location on the south side of Bothwell Street on the junction with Wellington Street. The property is situated centrally within Glasgow’s Business District and is 0.1 miles to the west of Glasgow Central railway station.

The immediate surrounding area comprises a mixture of retail, office, bar and restaurant uses. Occupiers of note include; Marks and Spencer, Sainsbury’s, Costa Coffee and Santander.


The Restaurant Group Plc


The Restaurant Group Plc for the year ending 14/12/2014 recorded a turnover of £635,225,000, a pretax profit of £84,927,000 and a total net worth of 218,091,000.

DESCRIPTION Allan House is a prominent Grade B Listed building arranged over basement, ground and four upper floors. The property provides a ground and basement restaurant with return frontage and office accommodation to the upper floors.

The offices provide open plan accommodation around a central service core with access via a ground floor entrance foyer/ reception area with two eight person passenger lifts. The office floors benefit from good natural daylighting, suspended ceilings, gas central heating and male and female toilet facilities. The property benefits from seven single car parking spaces and one tandem space at basement level which is accessed via Waterloo Lane. The ground and basement floors have undergone substantial fitting out works and present a very high quality fitted bar/restaurant. The main entrance is situated towards the east side of the ground floor with kitchen facilities at the rear. Further kitchen, preparation, storage, staff areas and customer toilets are provided on basement level.

OFFICE REFURBISHMENT

The 1st and 4th floors are currently undergoing an extensive refurbishment programme at a cost of over £800,000 which are due to complete shortly. Further details are available upon request.

Unit Tenant Lease Start Lease Expiry Active Break Next Review Area (sq ft) Current Income £p.a

Rent (£psf)

ERV £p.a

ERV £psf

Comments

Ground & Basement

Blackhouse Restaurants Limited

12-Jul-99 11-Jul-24 29-Sep-19 7,779 £147,000 £18.90 £140,022 £18.00 Guarantee from The Restaurant Group Plc.

1st Floor Vacant (Rental Guarantee)

5,700 £102,600 £18.00 £102,600 £18.00 The Vendor is to provide an 18 month rental guarantee. Accommodation is currently being refurbished and will be completed soon. Part 1st Floor under offer at £18.50 psf.

2nd & 3rd Floors

Scott-Moncrieff 03-Jul-15 03-Jan-20 04-Jan-18 11,598 £169,278 £14.60 £208,764 £18.00 If the break option is not exercised the tenant is entitled to a 5 month rent free period commencing on 04/01/18.

4th Floor Vacant (Rental Guarantee)

5,700 £102,600 £18.00 £102,600 £18.00 The Vendor is to provide an 18 month rental guarantee. Accommodation is currently being refurbished and will be completed soon.

Totals 30,777 £521,478 £16.94 £553,986 £18.00

ALLAN HOUSE, 21-25 BOTHWELL STREET, GLASGOW, G2 6NL

TENANCY SCHEDULE

LOCH PORTFOLIOLAUREL HOUSE, LAURELHILL BUSINESS PARK, STIRLING FK7 9JQ

STIRLING GOLF CLUB

Stirling

Birkhill

Road

King’s

P

ark R

oad

Snowdon Place

Victoria Sq Abercromby Pl

King’s Park Road

St N

inia

ns R

oadLaurelhill P

lace

Elizabeth Street

Springwood Avenue

Park Place

Dalmorglen Park

Drummond Place

Snowdon Place Lane

Clarend

on Place

Ken

ning

know

es

Road

Spittal Street

Goosecro

ft Ro

ad

Coneypark

Pol

mai

se R

oa

d

Dumbarton Road A811

A811

A811

A811

A

811

A9 B

urghmuir R

oadA

9 B

urghmuir R

oad

M9

M9

M

9

M

9

38.1m

POLM

AISE R

OAD

Sloping masonry

Hillside House

5

1

Laurel House

Elms Cottage

0m 10m 20m 30m

Project Loch - Laurel House Stirling

Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1149


LOCATION

Stirling is located centrally within Scotland approximately, 14 miles north west of Falkirk, 26 miles north east of Glasgow and 36 miles west of Edinburgh. The City is regarded as the administrative and financial centre of Stirlingshire with education, local government, retail and financial being the main employment sectors in the city.

Stirling benefits from excellent road communications with A811/A905 running directly through the city centre providing access to the M9 approximately 1.8 miles to the west. The M9 provides direct access south to Falkirk, Glasgow and Edinburgh. Stirling railway station is located centrally within the city providing regular services to Perth, Glasgow Queen Street and Edinburgh Waverley stations, with fastest journey times of 31, 40 and 59 minutes respectively.

TENURE


SITE AREA

The site area totals 0.907 ha (2.243 acres), which provides a low site cover of 11.28%.

SITUATION

The property is prominently located on the entrance of Laurelhill Business Park, which is accessed from Polmaise Road. Laurelhill Business Park is formed of four purpose built office buildings with occupiers including; The Civil Aviation Authority, Toshiba, DVLA and Expro. The Property benefits from excellent links with Stirling city centre with regular bus services from Dalmorglen Bus Stop which is adjacent the subject property.

The immediate surrounding area is predominantly residential comprising a number of new build residential schemes, local primary and secondary schools and Stirling Golf Course all with a mile of the subject property.

DESCRIPTION

The property comprises an attractive office building arranged over ground and two upper floors within the landscaped grounds of Laurelhill Business Park. The ground floor provides a recently refurbished reception, with open plan office accommodation laid out to provide two distinct wings. The first and second floors provide further office accommodation in the same configuration to the ground floor space. The office specification includes suspended ceilings, raised flooring and CAT 2 lighting. The building has the flexibility to be let as a whole or divided on a floor by floor/ wing by wing basis.

There are a total of 72 car parking spaces providing a parking ratio of 1:340.


Target Advisers LLP D & B Rating: O1


Target Advisors LLP (O1 D&B) for the year ending 30/04/2014 reported a turnover of £1,015,028, a pre-tax profit of £403,013 and a total net worth of £342,472

Bank of Scotland Plc D & B Rating: 5A1

Experian Risk Disk: Low Risk

Bank of Scotland Plc for the year ending 31/12/2014 reported a pre-tax profit of £3,180,000,000 and a total net worth of £20,420,000,000.

Scottish Enterprise

Scottish Enterprise is a non-departmental public body which promotes business in Scotland by providing training and support to high growth companies. Scottish Enterprise is funded by the Scottish Government.

Unit Tenant Lease Start Lease Expiry Active Break Next Review Area (sq ft) Current Income £p.a

Rent (£psf)

ERV £p.a

ERV £psf

Comments

West Wing & GF East Scottish Enterprise 07-Jun-91 06-Jun-16 - 15,105 £182,250 £12.07 £166,155 £11.00

1st Floor East Target Advisers LLP 20-Apr-15 19-Apr-20 20-Apr-17 - 3,697 £40,458 £10.94 £40,667 £11.00

Lease subject to a 15 month rent free period expiring on 20/07/2016. Vendor to top-up rent free period. Break penalty of £20,229.

2nd Floor East Bank of Scotland Plc 30-Aug-91 29-Aug-16 - - 3,700 £46,900 £12.68 £40,700 £11.00 Sub-let to Scottish Sea Farms Ltd.

Communal Storage

Totals 22,502 £269,608 £11.98 £247,522 £11.00

TENANCY SCHEDULE

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP.

Design: Command D - www.commandHQ.co.uk 09.15

James Salmon020 7543 [email protected]

Lottie Hayward020 7543 [email protected]

Jeremy Hodgson 020 7543 [email protected] www.allsop.co.uk

FOR FURTHER INFORMATION PLEASE CONTACT:

PROPOSALWe are instructed to seek offers in excess of £25,000,000 (Twenty Five Million Pounds) subject to contract and exclusive of VAT. A purchase at this level provides an attractive net initial of 8.53% (after allowing for standard purchasers costs in Scotland).

LOCH PORTFOLIOLOCH PORTFOLIO

VAT

We understand that all of the properties within the portfolio have been elected for VAT. It is anticipated that the sale will be structured as a Transfer of a Going Concern (TOGC).

EPCs

EPC’s for all properties are available on request.

LOCH PORTFOLIO - Allsop€¦ · ~ The portfolio comprises a trade counter, distribution warehouse,...

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