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Eastfield Industrial Estate, Woodgate Way South, Glenrothes

55950 sq ft
Ross Burnett

Partner, Investment

0131 221 2483
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Property Details

Eastfield Industrial Estate is strategically situated adjacent to the A92 trunk road that connects the main towns of Fife and provides links to Dundee in the north and Edinburgh to the south via the M90 motorway and Queensferry Crossing.

  • Attractive multi-let industrial investment opportunity with asset management potential located within Eastfield Industrial Estate, Glenrothes.
  • A total of 24 units, of which 9 have been sold off long leasehold expiring in 2114. The remaining 15 units are multi-let and extend to 55,950 sq.ft. 
  • Currently let to 14 tenants (plus long leaseholders), producing a total annual income of £232,978 per annum. 
  • The passing rent reflects an average rate of £4.16 per sq ft, with recent lettings demonstrating rental growth. 
  • WAULT of 3.5 years to the earliest breaks and 6 years to lease expiry. 
  • Heritable interest (Scottish equivalent of English Freehold). 
  • We are instructed to seek offers in excess of £2,750,000 exclusive of VAT for our client's heritable interest. 
  • A purchase at this level would provide a Net Initial Yield of 8.00% and a Reversionary Yield of 9.26%, allowing for purchaser's costs of 5.95%.  This price reflects a low capital rate of £49.15 per sq ft.
 

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