Pacific House 70 Wellington St 48,154 SF 79% Leased 4-Star Office Building Glasgow G2 6UA $12,361,228 ($256.70/SF) 9.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Core plus, refurbished office building situated in the heart of Glasgow CBD.
- Comprehensive refurbishment and capex spend in excess of £2.55m.
- Net income of £965,634 per annum.
- Blended WAULT of 3.08 years to the lease breaks and 5.19 years to the lease expiries.
- The property is rated EPC 'A' and extends to 49,185 sq ft over basement ground and six upper floors.
- Multi-let to occupiers including Thompsons Solicitors, Big Lottery Fund, Levy & McRae Solicitors, Ernst & Young and Scottish Rail Holdings (SRH).
- Heritable interest (Scottish equivalent of English Freehold).
- Offers are sought in excess of £9,275,000
EXECUTIVE SUMMARY
Following an extensive refurbishment, with environmental credentials at its heart, 70 Wellington Street has arrived. The building’s carbon reduction concept, 70 Sourced, is the key driver in delivering sustainable, modern workspace and welfare amenity to attract today’s discerning office occupier.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
48,154 SF
Building Class
B
LoopNet Rating
4 Star
Year Built/Renovated
1984/2014
Price
$12,361,228
Price Per SF
$256.70
Cap Rate
9.75%
NOI
$1,205,220
Percent Leased
79%
Tenancy
Multiple
Building Height
8 Stories
Typical Floor Size
6,019 SF
Building FAR
0.69
Lot Size
1.61 AC
Parking
16 Spaces (0.33 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Bus Line
- Raised Floor
- Energy Performance Rating - D
- Common Parts WC Facilities
- DDA Compliant
- Direct Elevator Exposure
- Open-Plan
- Shower Facilities
- Drop Ceiling
- Air Conditioning
- Balcony
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
£57.50 All Inclusive The office accommodation provides the following specification, Manned reception, 2 x 10 person passenger lifts, 2 showers per floor, DDA Compliant, LED Lighting and Extensive Secure Basement Car Parking
The office accommodation provides the following specification, Manned reception, 2 x 10 person passenger lifts, 2 showers per floor, DDA Compliant, LED Lighting and Extensive Secure Basement Car Parking
| Space | Size | Space Use | Condition | Available |
| Ground | 452-2,933 SF | Office | Partial Build-Out | Now |
| 1st Floor | 7,162 SF | Office | Partial Build-Out | Now |
Ground
| Size |
| 452-2,933 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
1st Floor
| Size |
| 7,162 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
1 of 1
