Glenrothes is the administrative capital of Fife lying approximately 25 miles south west of Dundee and 32 miles north of Edinburgh enjoying excellent road communications via the A720, A90 and A92. The town has a population of circa 39,000 persons but enjoys a larger catchment in excess of 350,000 persons.
The three units are individually well located within the prime industrial sectors of Glenrothes.
North Viewfield Road, Viewfield Industrial Estate, Glenrothes
The property comprises a single storey high bay production area with an adjacent L-shaped single storey office block. The main property has the benefit of a 6 metre eaves height and would appear to be of steel portal frame construction.
13 Faraday Road, Southfield Industrial Estate, Glenrothes
The property comprises two principal interconnecting high bay buildings which appear to be of steel portal frame construction with additiolnal office buildings.
Each lease is guaranteed by National Industries Group for the rent only, whilst individual leases are effectively cross guaranteed by the other occupational companies for all rent and non monetary obligations.
National Industries Group is a conglomerate currently active in a variety of markets and industries. Further information can be secured from their website www.nig.com.kw. National Industries Group is based in Kuwait City and part of its equity is quoted on the Kuwaiti Stock Exchange.
As at March 2015 its balance sheet total stood at 1.394 billion Kuwaiti Dinars and the company had a net worth of 590 million Kuwaiti Dinars.
Dun & Bradstreet information on National Industries Group can be provided on request.
We are of the opinion that there are a number of asset management angles to potentially be progressed.
Heritable interest (Scottish equivalent to English freehold).
The EPC rating for each property is as follows:-
The property is elected for VAT however it is anticipated that the sale will be dealt with as a transfer of going concern (TOGC) and therefore no VAT will be payable on the purchase price.
Offers in excess of £3,000,000 (Three Million Pounds Sterling) exclusive of VAT reflecting a net initial yield of 8.26% allowing for standard purchaser's costs, based upon LBTT with a minimum reversionary yield of 9.12% in December 2017.
For further information or to arrange a viewing please contact this office.