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779-787 Govan Road - Govan Jobcentre Plus 15,943 SF Office Condo Unit Offered at $2,656,784 in Glasgow G51 3JY

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Investment Highlights

Long Let Office Investment
Less than 1 mile from Glasgow’s West End and 2.5miles from the City centre
Total accommodation extending to circa 15,943 sq ft

Located in the historic and evolving Govan, one of Glasgow’s key regeneration areas
Prominent position within the heart of Govan Town Centre adjacent to Govan Bus & Subway Stations

Executive Summary

The property comprises a building of traditional construction arranged over three floors with retail accommodation on the ground floor and offices above. The property is located on Govan Road and backs onto Golspie Street. The M8 and Glasgow City Centre and both close by.

Marketing Brochure/Flyer

1 Unit Available

Unit Job Centre
15,943 SF
Office
$2,656,784 ($166.64/SF)
$213,605.40

Sale Type	Investment	Tenure	Freehold
Cap Rate	8.04%

Sale Type	Investment
Cap Rate	8.04%
Tenure	Freehold

Description

The subjects form part of Govan Cross Shopping Centre and comprise a JobCentre Plus over ground and first floor fronting Govan Road together with additional first and second floor offices above the centre’s primary retail arcade, known as the Unemployment Benefit Office (UBO). The two elementssare interconnected with the main entrance via the JobCentre Plus and a separate/ secondary dedicated UBO entrance located to the east of the primary retail parade. The two elements are held on co-terminus Full Repairing and Insuring leases. The property was constructed in approximately 1983 and is of reinforced concrete frame construction with external walls formed of cavity brick and blockwork wall construction. Roofs are predominantly a flat roof construction finished with aluminium cladding. Main and secondary escape staircases and fire exits are provided throughout the property. A passenger lift
also provides access between floors. Floor plates are largely open plan and fitted to suit the tenants own requirements. A large dedicated car park is located to the rear of the centre which includes 11 dedicated parking allocated to the subjects. Govan Cross boasts an impressive tenant line up anchored by Iceland and Home Bargains and supported by the likes of Greggs, Farmfoods,
Savers and Baynes. The centre benefits from an annual footfall of circa 2.3m people.

Sale Notes

We are instructed to invite offers over £2,000,000 exclusive of VAT. A purchase at this level would reflect a net initial yield of 8.04% allowing for standard purchasers’ costs and LBTT, and a capital rate per sq ft of approximately £125.

Brochure

Unit	Unit Size	Condo Use	Price	NOI
Unit Job Centre	15,943 SF	Office	$2,656,784 ($166.64/SF)	$213,605.40

Unit Size

15,943 SF

Condo Use

Office

Price

$2,656,784 ($166.64/SF)

NOI

$213,605.40

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Unit Size	15,943 SF
Condo Use	Office
Price	$2,656,784 ($166.64/SF)
NOI	$213,605.40
Sale Type	Investment
Cap Rate	8.04%
Tenure	Freehold
Description
The subjects form part of Govan Cross Shopping Centre and comprise a JobCentre Plus over ground and first floor fronting Govan Road together with additional first and second floor offices above the centre’s primary retail arcade, known as the Unemployment Benefit Office (UBO). The two elementssare interconnected with the main entrance via the JobCentre Plus and a separate/ secondary dedicated UBO entrance located to the east of the primary retail parade. The two elements are held on co-terminus Full Repairing and Insuring leases. The property was constructed in approximately 1983 and is of reinforced concrete frame construction with external walls formed of cavity brick and blockwork wall construction. Roofs are predominantly a flat roof construction finished with aluminium cladding. Main and secondary escape staircases and fire exits are provided throughout the property. A passenger lift<br> also provides access between floors. Floor plates are largely open plan and fitted to suit the tenants own requirements. A large dedicated car park is located to the rear of the centre which includes 11 dedicated parking allocated to the subjects. Govan Cross boasts an impressive tenant line up anchored by Iceland and Home Bargains and supported by the likes of Greggs, Farmfoods,<br> Savers and Baynes. The centre benefits from an annual footfall of circa 2.3m people.</li></ul>
Sale Notes
We are instructed to invite offers over £2,000,000 exclusive of VAT. A purchase at this level would reflect a net initial yield of 8.04% allowing for standard purchasers’ costs and LBTT, and a capital rate per sq ft of approximately £125.</li></ul>

Brochure

Property Facts

The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.

Total Building Size	52,792 SF	Typical Floor Size	40,387 SF
Property Type	Retail (Condo)	Year Built	1982
Property Subtype	Storefront	Lot Size	1.52 AC
Building Class	B	Parking Ratio	3.79/1,000 SF
Floors	3

Total Building Size	52,792 SF
Property Type	Retail (Condo)
Property Subtype	Storefront
Building Class	B
Floors	3
Typical Floor Size	40,387 SF
Year Built	1982
Lot Size	1.52 AC
Parking Ratio	3.79/1,000 SF