Abercrombie Ct
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Abercrombie Ct
5,190 SF 100% Leased Office Building Westhill AB32 6FE $766,822 ($148/SF) 13.50% Cap Rate
Investment Highlights
- Car parking.
- Great location.
- Detached office property.
Executive Summary
Offers in excess of £600,000 are sought for our client’s heritable interest to include the benefit of the occupational leases. This reflects a NIY of 13.5% after purchaser’s costs.
The property is let on FRI terms on a floor by floor basis to MMA Offshore Services Ltd and Omega Subsea UK Ltd.
The ground floor suite is let to MMA Offshore Services Ltd from 30.09.22 until 30.09.25. The lease makes provision for a Tenant option to extend for a further 3 years. If the Tenant does not exercise the option to extend, a 3 month rent penalty is payable to the Landlord. The passing rent is £36,500 per annum, reflecting £14.63 per sq.ft.
The first floor suite is let to Omega Subsea UK Ltd from 01.07.24 until 01.07.29. There is provision for a Tenant break option at the third anniversary (30.06.27). If the Tenant does not exercise the break option, they will be granted a 6 month rent free period from 01.07.27. The lease also makes provision for an upwards-only rent review to open market rental value (OMRV) on 30.06.27. The passing rent is £48,510 per annum, reflecting £18 per sq.ft.
The property is let on FRI terms on a floor by floor basis to MMA Offshore Services Ltd and Omega Subsea UK Ltd.
The ground floor suite is let to MMA Offshore Services Ltd from 30.09.22 until 30.09.25. The lease makes provision for a Tenant option to extend for a further 3 years. If the Tenant does not exercise the option to extend, a 3 month rent penalty is payable to the Landlord. The passing rent is £36,500 per annum, reflecting £14.63 per sq.ft.
The first floor suite is let to Omega Subsea UK Ltd from 01.07.24 until 01.07.29. There is provision for a Tenant break option at the third anniversary (30.06.27). If the Tenant does not exercise the break option, they will be granted a 6 month rent free period from 01.07.27. The lease also makes provision for an upwards-only rent review to open market rental value (OMRV) on 30.06.27. The passing rent is £48,510 per annum, reflecting £18 per sq.ft.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
5,190 SF
Building Class
B
Year Built
2012
Price
$766,822
Price Per SF
$148
Cap Rate
13.50%
NOI
$103,521
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,595 SF
Slab To Slab
11’
Building FAR
1.99
Lot Size
0.06 AC
Parking
20 Spaces (3.85 Spaces per 1,000 SF Leased)
Amenities
- Raised Floor
- Security System
- Air Conditioning
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Abercrombie Ct
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