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News Release

Glasgow

Multi-let Business Park Investment opportunity in Glasgow


Glasgow, 17 July 2012 – Jones Lang LaSalle has been appointed to market 1 & 3 Seaward Place in Centurion Business Park, Glasgow.
 
Centurion Business Park is prominently located at the junction of Shields Road and Scotland Street, with the two available modern stand-alone office pavilions extending across 16,839 sq ft in total on a 1.3 acre site.
 
Both pavilions also benefit from strong motorway and public transport links, including direct access to the City Centre via the nearby Shields Road Underground Station.
 
1 Seaward Place is arranged over two floors, comprising 5,835 sq ft, and 3 Seaward Place is a three-storey property, extending to 11,004 sq ft.
 
Jones Lang LaSalle is seeking offers in excess of £1,600,000, reflecting a Net Initial Yield of 11.4% per annum, and low capital value of £95.02 per sq ft.
 
The current passing rental is £211,838 per annum, with potential to re-gear existing leases by removing break options, and increase income through the letting of a vacant 1,987 sq ft suite on the second floor of 3 Seaward Place.
 
The properties have been constructed to a high specification with several attractive features including modern open plan floorplates, high quality low maintenance finishes, solar tinted double glazing, a secure entrance, and 63 dedicated car parking spaces in total.
 
Ross Burns, of Jones Lang LaSalle’s Glasgow office, said: “The two properties represent an excellent investment opportunity for private investors. Located close to the junctions of the M8, M74 and M77, the business park offers unrivalled access to Glasgow City Centre and the rest of the country.”
 
Current tenants include Wates Construction Limited, Taylor Maxwell Holdings Limited, and John Graham (Dromore) Limited, all of which have been identified as a very low risk (confidence) by an Experian credit check.