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Prospect Rd 15,394 sq ft Office Property Westhill AB32 6FE £1,650,000 (£107.18/sq ft) 13.63% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Modern office pavilion within established Westpoint Business Park
- Let to Borr Drilling Land Support Limited from 14/10/19 - 13/10/29
- Opportunity to acquire 182 spaces within multi storey car park (not in lease)
EXECUTIVE SUMMARY
Instructed to seek offers in excess of £1,650,000 (One Million, Six Hundred and Fifty Thousand Pounds) excluding VAT, for the vendor's heritable interest (Scottish equivalent of English Freehold). A purchase at this level would reflect a Net Initial Yield of 13.63% after purchasers’ costs of 6.16% (to include the multi storey car park). The multi storey car park could be bought separately for £300,000. Removing the car park element at £300,000 reflects a NIY of 16.68% after purchaser’s costs.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
15,394 sq ft
Costar Property Class
B
Year Built
2006
Price
£1,650,000
Price per sq ft
£107.18
Yield
13.63%
NOI
£224,895
Tenancy
Single
Number of Floors
3
Typical Floor Size
5,131 sq ft
Floor To Floor Height
11 ft
Plot ratio
2.73
Total Plot Size
0.13 ac
Parking
44 Spaces (2.86 Spaces per 1,000 sq ft Leased)
AMENITIES
- Raised Floor
- Security System
- Kitchen
- EPC - C
- Demised WC facilities
- Recessed Lighting
- Air Conditioning
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Prospect Rd
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