Shepherd sets closing date on sale of multi-let industrial investment opportunity in Blantyre
Shepherd Chartered Surveyors has set a closing date of 12 noon on the 28th October for the sale of a multi-let industrial investment opportunity in Blantyre, South Lanarkshire, with offers over £1million invited.
The industrial investment is located within Whistleberry Industrial Estate, an established and popular industrial and distribution location with Blantyre, west of Hamilton, which serves as the major services and administrative centre for South Lanarkshire, eight miles south east of Glasgow city centre.
Steve Barnett, managing partner at Shepherd, said: “We have received an overwhelming level of interest in this ‘value-add’ investment opportunity for an asset class that is very much in demand at present.
“The investment offers a rare opportunity to acquire an established estate of industrial ‘nest style’ units of between approximately 2,000 to 3,500 sq ft that will satisfy the majority of local occupier demand whilst being located within the centre of Scotland’s industrial heartland with excellent connectivity.
“Industrial stock has continued to perform extremely well partly due to occupiers seeking additional space as a result of the recent expansion of e-commerce but also through on-going continued stockpiling ahead of Brexit coupled with the change in vacant rates liabilities which has seen a significant amount of dated industrial stock being demolished and developed for alternative uses, thereby reducing the supply at a time when demand is increasing.
“The estate at Whistleberry offers an investor an extremely attractive opportunity to ‘add value’ through pro-active asset management thereby increasing their return on investment.
“With an estimated rental value of approximately £128,791p.a., this provides a reversionary yield of 12.18% based on the quoting price. Offers over £1,000,000 are invited which reflects a net initial yield of 8.27% and a capital rate of £49.30 per square foot.”
Blantyre has an excellent communications network with the A725 East Kilbride Expressway providing immediate access to Scotland’s motorway network, including the M8 to Glasgow and Edinburgh and the M74 to Carlisle and then south into England.
Both Glasgow and Edinburgh International Airports are within a 45-minute drive and the Euro Central Rail Freight Terminal is only six miles away.
Whistleberry Industrial Estate comprises of eight modern industrial units contained within three industrial terraces arranged around a central communal yard area on a 2.17-acre site.
Each unit features an attractive workshop/industrial space along with office accommodation, loading bay, dedicated car parking, with staff welfare and wc facilities.
The estate has planning consent for its existing use falling within Class 4, 5 and 6 of the Town & Country Planning (Use Classes) (Scotland) Order 1997. The properties may suit alternative uses subject to obtaining all necessary planning consents.
Interested parties should contact the sole sales agent on 0141 331 2807.
For further information please contact Steve Barnett on tel 0141 331 2807
Issued on behalf of Shepherd Chartered Surveyors by Liquorice Media tel 0141 332 4935 www.liquorice-media.com
Date: 14 Oct20