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The Exchange 62 Market St

82,726 SF 54% Leased Office Building Aberdeen AB11 5PJ $5,591,312 ($68/SF) 19.40% Cap Rate

Investment Highlights

  • Car parking.
  • Great transport links.
  • Waterfront location.

Executive Summary

We are instructed to seek offers in excess of £4,500,000 exclusive of VAT for our client’s heritable interest, reflecting an attractive net
initial yield of 19.40%, after purchaser’s costs.
Two high quality interconnecting multi-let office buildings – Exchange 1 and Exchange 2, Total current rental income of £930,320 per annum, WAULT of 2.9 years to expiry (2.6 years to break).

Attachments

Brochure

Property Facts

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
82,726 SF
Building Class
B
Year Built
1988
Price
$5,591,312
Price Per SF
$68
Cap Rate
19.40%
NOI
$1,084,715
Percent Leased
54%
Tenancy
Multiple
Building Height
9 Stories
Typical Floor Size
9,192 SF
Building FAR
0.90
Lot Size
2.11 AC
Parking
20 Spaces (0.24 Spaces per 1,000 SF Leased)

Amenities

  • Raised Floor
  • Security System
  • Waterfront
  • Energy Performance Rating - E
  • DDA Compliant
  • Demised WC facilities
  • Direct Elevator Exposure
  • Open-Plan
  • Drop Ceiling
  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 2nd Fl-Ste Exchange 1
  • 9,100 SF
  • Office
  • Full Build-Out
  • Now

The 2nd floor comprises 9,100 sq ft of office space available to let. The space has been refurbished to a high standard and benefits from shower and wc facilities. Client is seeking to lease the available space (either as a whole, or on a suite by suite basis) on Full Repairing and Insuring lease terms. The rent will be subject to upward only review at 5 yearly intervals.

  • 2nd Fl-Ste Exchange 2
  • 3,843 SF
  • Office
  • Full Build-Out
  • Now

The available accommodation is located within The Exchange No 2 over floors 2-5 and comprises fully refurbished office suites with exposed services; two of the floors featuring a Cat A + fit-out. The accommodation has recently been refurbished to a high standard.

  • 3rd Fl-Ste Exchange 1 North
  • 4,387 SF
  • Office
  • Full Build-Out
  • Now

The 3rd floor comprises 4,387 sq ft of office space available to let. The space has been refurbished to a high standard and benefits from shower and wc facilities. Client is seeking to lease the available space (either as a whole, or on a suite by suite basis) on Full Repairing and Insuring lease terms. The rent will be subject to upward only review at 5 yearly intervals.

  • 3rd Fl-Ste Exchange 1 South
  • 4,713 SF
  • Office
  • Full Build-Out
  • Now

The 3rd floor comprises 4,387 sq ft of office space available to let. The space has been refurbished to a high standard and benefits from shower and wc facilities. Client is seeking to lease the available space (either as a whole, or on a suite by suite basis) on Full Repairing and Insuring lease terms. The rent will be subject to upward only review at 5 yearly intervals.

  • 3rd Fl-Ste Exchange 2
  • 3,843 SF
  • Office
  • Full Build-Out
  • Now

The available accommodation is located within The Exchange No 2 over floors 2-5 and comprises fully refurbished office suites with exposed services; two of the floors featuring a Cat A + fit-out. The accommodation has recently been refurbished to a high standard.

  • 4th Fl-Ste Exchange 2
  • 3,888 SF
  • Office
  • Full Build-Out
  • Now

The available accommodation is located within The Exchange No 2 over floors 2-5 and comprises fully refurbished office suites with exposed services; two of the floors featuring a Cat A + fit-out. The accommodation has recently been refurbished to a high standard.

  • 5th Fl-Ste Exchange 2
  • 3,888 SF
  • Office
  • Full Build-Out
  • Now

The available accommodation is located within The Exchange No 2 over floors 2-5 and comprises fully refurbished office suites with exposed services; two of the floors featuring a Cat A + fit-out. The accommodation has recently been refurbished to a high standard.

  • 6th Fl-Ste Exchange 1
  • 4,515 SF
  • Office
  • Full Build-Out
  • Now

The 6th floor comprises 4,525 sq ft of office space available to let. The space has been refurbished to a high standard and benefits from shower and wc facilities. Client is seeking to lease the available space (either as a whole, or on a suite by suite basis) on Full Repairing and Insuring lease terms. The rent will be subject to upward only review at 5 yearly intervals.

Space Size Space Use Condition Available
2nd Fl-Ste Exchange 1 9,100 SF Office Full Build-Out Now
2nd Fl-Ste Exchange 2 3,843 SF Office Full Build-Out Now
3rd Fl-Ste Exchange 1 North 4,387 SF Office Full Build-Out Now
3rd Fl-Ste Exchange 1 South 4,713 SF Office Full Build-Out Now
3rd Fl-Ste Exchange 2 3,843 SF Office Full Build-Out Now
4th Fl-Ste Exchange 2 3,888 SF Office Full Build-Out Now
5th Fl-Ste Exchange 2 3,888 SF Office Full Build-Out Now
6th Fl-Ste Exchange 1 4,515 SF Office Full Build-Out Now

2nd Fl-Ste Exchange 1

Size
9,100 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Fl-Ste Exchange 2

Size
3,843 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

3rd Fl-Ste Exchange 1 North

Size
4,387 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

3rd Fl-Ste Exchange 1 South

Size
4,713 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

3rd Fl-Ste Exchange 2

Size
3,843 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

4th Fl-Ste Exchange 2

Size
3,888 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

5th Fl-Ste Exchange 2

Size
3,888 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

6th Fl-Ste Exchange 1

Size
4,515 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Fl-Ste Exchange 1

Size 9,100 SF
Space Use Office
Condition Full Build-Out
Available Now

The 2nd floor comprises 9,100 sq ft of office space available to let. The space has been refurbished to a high standard and benefits from shower and wc facilities. Client is seeking to lease the available space (either as a whole, or on a suite by suite basis) on Full Repairing and Insuring lease terms. The rent will be subject to upward only review at 5 yearly intervals.

2nd Fl-Ste Exchange 2

Size 3,843 SF
Space Use Office
Condition Full Build-Out
Available Now

The available accommodation is located within The Exchange No 2 over floors 2-5 and comprises fully refurbished office suites with exposed services; two of the floors featuring a Cat A + fit-out. The accommodation has recently been refurbished to a high standard.

3rd Fl-Ste Exchange 1 North

Size 4,387 SF
Space Use Office
Condition Full Build-Out
Available Now

The 3rd floor comprises 4,387 sq ft of office space available to let. The space has been refurbished to a high standard and benefits from shower and wc facilities. Client is seeking to lease the available space (either as a whole, or on a suite by suite basis) on Full Repairing and Insuring lease terms. The rent will be subject to upward only review at 5 yearly intervals.

3rd Fl-Ste Exchange 1 South

Size 4,713 SF
Space Use Office
Condition Full Build-Out
Available Now

The 3rd floor comprises 4,387 sq ft of office space available to let. The space has been refurbished to a high standard and benefits from shower and wc facilities. Client is seeking to lease the available space (either as a whole, or on a suite by suite basis) on Full Repairing and Insuring lease terms. The rent will be subject to upward only review at 5 yearly intervals.

3rd Fl-Ste Exchange 2

Size 3,843 SF
Space Use Office
Condition Full Build-Out
Available Now

The available accommodation is located within The Exchange No 2 over floors 2-5 and comprises fully refurbished office suites with exposed services; two of the floors featuring a Cat A + fit-out. The accommodation has recently been refurbished to a high standard.

4th Fl-Ste Exchange 2

Size 3,888 SF
Space Use Office
Condition Full Build-Out
Available Now

The available accommodation is located within The Exchange No 2 over floors 2-5 and comprises fully refurbished office suites with exposed services; two of the floors featuring a Cat A + fit-out. The accommodation has recently been refurbished to a high standard.

5th Fl-Ste Exchange 2

Size 3,888 SF
Space Use Office
Condition Full Build-Out
Available Now

The available accommodation is located within The Exchange No 2 over floors 2-5 and comprises fully refurbished office suites with exposed services; two of the floors featuring a Cat A + fit-out. The accommodation has recently been refurbished to a high standard.

6th Fl-Ste Exchange 1

Size 4,515 SF
Space Use Office
Condition Full Build-Out
Available Now

The 6th floor comprises 4,525 sq ft of office space available to let. The space has been refurbished to a high standard and benefits from shower and wc facilities. Client is seeking to lease the available space (either as a whole, or on a suite by suite basis) on Full Repairing and Insuring lease terms. The rent will be subject to upward only review at 5 yearly intervals.

  • Listing ID: 33244300

  • Date on Market: 9/20/2024

  • Last Updated:

  • Address: 62 Market St, Aberdeen AB11 5PJ

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