BURNSIDE DRIVE FARBURN INDUSTRIAL Call Centre & Office … · 2020-01-16 · included the...

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Let to Computer Cab (Aberdeen) Limited with PCG from a D&B 4A1 rated company 4 years guaranteed income Offers over £550,000, exclusive ofVAT, for the long leasehold interest Ultra high net initial yield of 16.15% Call Centre & Office Investment For Sale DYCE ABERDEEN AB21 0HW INDUSTRIAL ESTATE BURNSIDE DRIVE FARBURN

Transcript of BURNSIDE DRIVE FARBURN INDUSTRIAL Call Centre & Office … · 2020-01-16 · included the...

Page 1: BURNSIDE DRIVE FARBURN INDUSTRIAL Call Centre & Office … · 2020-01-16 · included the installation of suspended ceilings and a raised floor to the call centre area.The remainder

• LettoComputerCab(Aberdeen)LimitedwithPCGfromaD&B4A1ratedcompany• 4yearsguaranteedincome• Offersover£550,000,exclusiveofVAT,forthelongleaseholdinterest• Ultrahighnetinitialyieldof16.15%

Call Centre & Office Investment For Sale

DYCE ABERDEEN AB21 0HW

INDUSTRIAL ESTATE

BURNSIDE DRIVEFARBURN

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DYCE

KINGSWELLS

MILLTIMBER

BLACKDOG

PORTLETHEN

COVE BAY

NORTH SEA

ABERDEENCITY CENTRE

BRIDGEOF DON

RIVER DON

RIVER DEE

A944

A93

A96

A92

A92

A92

A92

A96

A956

AWPR

AWPR

AWPR

BUCKSBURN

CULTS

ABERDEEN

AberdeenisScotland’sthirdlargestcitywithapopulationofapproximately220,000andaregionalcatchmentpopulationofover500,000.ItistheadministrativecapitaloftheNorthEastofScotlandandbenefitsfromtwoUniversities,anexpandingInternationalHarbourandAirport,sevenmajorResearchInstitutes,togetherwithworldrenownedFood,FisheriesandAgriculturalResearchEstablishments.

Located120milesnorthofEdinburgh,AberdeenisoneofScotland’sbiggestsuccessstories.AsthecentreofEurope’soilandgasindustry,thecityandthesurroundingregionisakeyengineoftheScottishandUKeconomieswithmajoropportunitiesforgrowth.

AberdeenhasstrongcommunicationlinkswiththerestofScotland,theUKandEurope.TheA90trunkroadlinksAberdeenwiththeScottishmotorwaynetwork,makingEdinburghandGlasgowaccessibleinjustover2hours.Thecity’sroadnetworkhasdramaticallyimprovedwiththeopeningoftheAberdeenWesternPeripheralRoute.ThecityisalsolinkedtomajortownsandcitiesthroughouttheUKbyrail.AberdeenInternationalAirport,whichliestothenorthwestofthecity,providesfrequentdailyservicestotheprincipalUKcitiesanddirectflightstoEurope.TheAirportalsoincorporatestheworld’slargestcommercialHeliport.

LOCATION

ThesubjectsaresituatedonthesouthsideofBurnsideDrivewithinFarburnIndustrialEstateinDyce,somesevenmilesnorthwestofAberdeencitycentre.

ThepropertyisconvenientlysituatedforaccesstoAberdeenInternationalAirportwhichisamileawayandalsothecity’snewbypassroad(AWPR).Accesstothecity’spublictransportnetworkisreadilyavailablewithbusroutesandDycerailwaystationbeingsituatednearby.

SeveralhighprofilecompaniesarelocatedincloseproximitytothepropertyincludingTechnipFMC,Plexus,FalckandNoble.Furthermore,theBPNorthSeaHQofficesaresituatedatStoneywood,whichliesadjacenttoFarburn.

RIVERVIEW DRIVE

BURNSIDE ROAD

WELLHEADS ROAD

BURNSI DE DRIVE

PARKHILL AV ENUE

DYCE ABERDEEN

INDUSTRIAL ESTATE

BURNSIDE DRIVEFARBURN

BURNSIDE DRIVE

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DESCRIPTION

ThepropertycomprisesaformerBPtrainingcentrewhichhasbeenconvertedinternallytoprovideacallcentrewithofficeaccommodation.Theoriginalbuildingisestimatedtobearound40yearsoldandcomprisesasinglestoreyofficeblockwithaflatroofandaconnectingsteelportalframedwarehousetotherear.Thewallsarerenderedconcreteblockwithprofiledmetalabovedadoheight.Anextensiontothewarehouse,ofsimilarconstruction,wasaddedaround30yearsago.

DYCE ABERDEEN

INDUSTRIAL ESTATE

BURNSIDE DRIVEFARBURN

Thepropertywasconvertedinternallyapproximately20yearsagotosuititscurrentuseasataxicallcentrewithoffices.Weunderstandthealterationsatthattimeincludedtheinstallationofsuspendedceilingsandaraisedfloortothecallcentrearea.Theremainderofthepropertyissub-dividedtoformcellularoffices,breakoutareas,lecturerooms,andkitchen/toiletfacilities.

Thepropertybenefitsfromcomfortcoolingtothecallcentreareaandgasfiredcentralheatingtotheremainder.LightingisprovidedbyCat2fluorescentfitmentsandaCCTVsystemisalsoinstalled.

Externally,thereisaparkingareatothefront,side,andrearyardspacewhichisalsousedforparking.Weestimatethataround65carscanbeaccommodated.Thesiteisenclosedbyfencing.

Boardroom

OpenPlanCallCentreArea

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ACCOMMODATION

Thepropertyhasbeenmeasuredonagrossinternalbasistobeapproximately11,350sqft(1,054.6sqm)andisdividedasfollows:

Description Area (Sq Ft) Area (Sq M)

Front Offices 3,130 290.8

Call Centre 3,900 362.4

Rear Offices 4,320 401.4

Total 11,350 1,054.6

TENURE

Ourclient’slongleaseholdinterestinthesiteisforsale.Thesiteisleaseduntil28May2125andtherentcurrentlypayableis£24,000perannum.Therentissubjectto5yearlyreviewswiththe1October2017reviewnotyetimplementedbythelandlord.

EPC

ThesubjectshaveanEPCRatingofD.

DYCE ABERDEEN

INDUSTRIAL ESTATE

BURNSIDE DRIVEFARBURN

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Year Turnover PreTaxProfit Shareholder’sFunds31/12/2017 £5,147,143 £505,471 £5,074,61231/12/2016 £4,559,744 £608,915 £7,666,79931/12/2015 £5,390,726 £864,651 £7,159,561

Year Turnover PreTaxProfit Shareholder’sFunds31/12/2017 £57,976,000 £677,000 £18,811,00031/12/2016 £54,708,000 £240,000 £26,264,00031/12/2015 £57,736,000 £1,284,000 £26,174,000

Theguarantor,CityFleetNetworksLimited,theholdingcompany,hasaD&Bratingof4A1andtheiraccountsforthelastthreeyearsaresummarisedbelow:

COVENANT

ComputerCab(Aberdeen)LimitedisalongestablishedtaxifirmoperatingprincipallyinAberdeenandAberdeenshirebutisalsopartofalargergroupoftaxicompanieswithoperationsinLondon,LiverpoolandEdinburgh.Thetenantcompanywasincorporatedin1983.

ThecompanyhasaD&Bratingof2A1andtheiraccountsforthelastthreeyearsaresummarisedbelow:

TENANCY

ThebuildingispresentlyleasedtoComputerCab(Aberdeen)LimitedonaFRIbasisforaperiodof10yearsfrom21stJune2018to20thJune2028,subjecttoatenant’sbreakoptiononthe5thanniversary,upongivingtwelvemonthsnoticeandapenaltyofthreemonthsrent.Ifthetenantdoesnotexercisethebreakoptionarentfreeperiodofthreemonthswillapply.

Thepassingrentis£105,000perannum,subjecttoarentreviewatthe5thanniversary.Thetenantisalsoresponsibleforpayinghalfthegroundrent,subjecttoaceilingof£14,000.Accordingly,thetotaloccupationalrentpassingispresently£117,000perannum.

TheleaseisguaranteedbyCityFleetNetworksLimited.

DYCE ABERDEEN

INDUSTRIAL ESTATE

BURNSIDE DRIVEFARBURN

StaffBreakoutArea

OpenPlanOffice

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VIEWING Toarrangeaviewingorforfurtherinformation,pleasecontactthesoleagents:

[email protected]

[email protected]

VATThepropertyhasbeenelectedforVATanditisanticipatedthatthesalewillbetreatedasaTransferofaGoingConcern.

PROPOSAL

Weareinstructedtoseekoffersinexcessof£550,000forourclient’slongleaseholdinterestintheaboveproperty,exclusiveofVAT.

Apurchaseatthispricewillshowaveryattractiveinitialyieldof16.15%,basedonthenetrent,afterdeductionofpurchaser’scostsandLBTT.

RydenisalimitedliabilitypartnershipregisteredinScotland.MessrsRydenLLPforthemselvesandforvendorsorlessorsofthispropertywhoseagentstheyaregivenoticethat:(i)theparticularsaresetoutasageneraloutlineonlyfortheguidanceofintendedpurchasersorlessees,anddonotconstitute,norconstitutepartof,anofferorcontract;(ii)alldescriptions,dimensions,referencetoconditionandnecessarypermissionsforuseandoccupation,andotherdetailsaregivenwithoutresponsibilityandanyintendingpurchasersortenantsshouldnotrelyonthemasstatementsorrepresentationsoffactbutmustsatisfythemselvesbyinspectionorotherwiseastothecorrectnessofeachofthem;(iii)nopersonintheemploymentofMessrsRydenLLPhasanyauthoritytomakeorgiveanyrepresentationorwarrantywhateverinrelationtothisproperty.May2019.

RydenLLP25AlbynPlaceAberdeenAB101YL

DYCE ABERDEEN

INDUSTRIAL ESTATE

BURNSIDE DRIVEFARBURN