Let to Macphie Limited Until 2028 on a recently extended lease
Approximate Floor Area of 1,615.02 sq m (17,385 sq ft)
Total Approximate Site Area of 0.4 Ha (0.94 Acres) and a site coverage of 35%
Nearby occupiers include DPD, Sky, Whilst, Emtec, Avotec and Steer
Lot 13
Auction 30th March 2023
Rent £125,000 per Annum Exclusive (2)
Status Sold
Price £1,390,000
Sector Industrial, Warehouse
Auction Venue Live Streamed Auction
Property Information
Location
Miles
7 miles east of Glasgow
Roads
M74, M8, M73, A725
Rail
Uddingston Railway Station, Bargeddie Railway Station
Air
Glasgow Prestwick Airport, Glasgow International Airport
Situation
Tannochside Business Park is a well established mixed use park within a 15 minutes’ drive of Glasgow City Centre. The park is recognised as having a wide range distribution, light industrial and office users providing excellent access to the M74 and M8 motorways. Nearby occupiers include DPD, Sky, Whilst, Emtec, Avotec and Steer.
The current tenant, Macphie Limited, also occupies the adjoining building.
Tenure
Heritable. Scottish equivalent of English Freehold.
Location
Miles
7 miles east of Glasgow
Roads
M74, M8, M73, A725
Rail
Uddingston Railway Station, Bargeddie Railway Station
Air
Glasgow Prestwick Airport, Glasgow International Airport
Situation
Tannochside Business Park is a well established mixed use park within a 15 minutes’ drive of Glasgow City Centre. The park is recognised as having a wide range distribution, light industrial and office users providing excellent access to the M74 and M8 motorways. Nearby occupiers include DPD, Sky, Whilst, Emtec, Avotec and Steer.
The current tenant, Macphie Limited, also occupies the adjoining building.
Tenure
Heritable. Scottish equivalent of English Freehold.
Description
The property comprises a steel portal frame industrial unit with 7.5 metre eaves. The unit provides a warehouse accessed via ground level roller shutter doors together with first floor office accommodation. The property benefits from a site area of approximately 0.4 Ha (0.94 Acres).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a steel portal frame industrial unit with 7.5 metre eaves. The unit provides a warehouse accessed via ground level roller shutter doors together with first floor office accommodation. The property benefits from a site area of approximately 0.4 Ha (0.94 Acres).
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Review
Ground/First
Warehouse & Office
1,615.03
(17,385)
MACPHIE LIMITED (CRN SC031780) (1)
5 year lease extension from 18/06/2023
£125,000 (2)
18/06/2026
Total Approximate Floor Area
1,615.03
(17,385)
£125,000
(1) For the year ending 31/03/2022 Macphie Limited reported a Turnover of £59,506,470, a Pre-Tax Profit of £3,486,319 and Net Worth of £24,244,175 (NorthRow 02/03/2023). Macphie are an internationally renowned family run food ingredient manufacturer (www.macphie.com). (2) Under the terms of the tenants lease, the rent currently reserved is £86,735 per annum exclusive. The rent will increase to £125,000 p.a.x from 18/06/2023. The Seller will pay to the Buyer the difference between the current rent reserved from completion of the sale until 17/06/2023, therefore the property will effectively produce £125,000 p.a.x. from completion of the sale.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
