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Prospect Rd 15,394 SF Office Building Westhill AB32 6FE $2,198,446 ($142.81/SF) 13.63% Cap Rate
INVESTMENT HIGHLIGHTS
- Modern office pavilion within established Westpoint Business Park
- Let to Borr Drilling Land Support Limited from 14/10/19 - 13/10/29
- Opportunity to acquire 182 spaces within multi storey car park (not in lease)
EXECUTIVE SUMMARY
Instructed to seek offers in excess of £1,650,000 (One Million, Six Hundred and Fifty Thousand Pounds) excluding VAT, for the vendor's heritable interest (Scottish equivalent of English Freehold). A purchase at this level would reflect a Net Initial Yield of 13.63% after purchasers’ costs of 6.16% (to include the multi storey car park). The multi storey car park could be bought separately for £300,000. Removing the car park element at £300,000 reflects a NIY of 16.68% after purchaser’s costs.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
15,394 SF
Building Class
B
Year Built
2006
Price
$2,198,446
Price Per SF
$142.81
Cap Rate
13.63%
NOI
$299,648
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
5,131 SF
Slab To Slab
11’
Building FAR
2.73
Lot Size
0.13 AC
Parking
44 Spaces (2.86 Spaces per 1,000 SF Leased)
AMENITIES
- Raised Floor
- Security System
- Kitchen
- Energy Performance Rating - C
- Demised WC facilities
- Recessed Lighting
- Air Conditioning
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Prospect Rd
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