burnside drive farburn industrial call centre & office … · 2020-01-16 · included the...
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• LettoComputerCab(Aberdeen)LimitedwithPCGfromaD&B4A1ratedcompany• 4yearsguaranteedincome• Offersover£550,000,exclusiveofVAT,forthelongleaseholdinterest• Ultrahighnetinitialyieldof16.15%
Call Centre & Office Investment For Sale
DYCE ABERDEEN AB21 0HW
INDUSTRIAL ESTATE
BURNSIDE DRIVEFARBURN
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DYCE
KINGSWELLS
MILLTIMBER
BLACKDOG
PORTLETHEN
COVE BAY
NORTH SEA
ABERDEENCITY CENTRE
BRIDGEOF DON
RIVER DON
RIVER DEE
A944
A93
A96
A92
A92
A92
A92
A96
A956
AWPR
AWPR
AWPR
BUCKSBURN
CULTS
ABERDEEN
AberdeenisScotland’sthirdlargestcitywithapopulationofapproximately220,000andaregionalcatchmentpopulationofover500,000.ItistheadministrativecapitaloftheNorthEastofScotlandandbenefitsfromtwoUniversities,anexpandingInternationalHarbourandAirport,sevenmajorResearchInstitutes,togetherwithworldrenownedFood,FisheriesandAgriculturalResearchEstablishments.
Located120milesnorthofEdinburgh,AberdeenisoneofScotland’sbiggestsuccessstories.AsthecentreofEurope’soilandgasindustry,thecityandthesurroundingregionisakeyengineoftheScottishandUKeconomieswithmajoropportunitiesforgrowth.
AberdeenhasstrongcommunicationlinkswiththerestofScotland,theUKandEurope.TheA90trunkroadlinksAberdeenwiththeScottishmotorwaynetwork,makingEdinburghandGlasgowaccessibleinjustover2hours.Thecity’sroadnetworkhasdramaticallyimprovedwiththeopeningoftheAberdeenWesternPeripheralRoute.ThecityisalsolinkedtomajortownsandcitiesthroughouttheUKbyrail.AberdeenInternationalAirport,whichliestothenorthwestofthecity,providesfrequentdailyservicestotheprincipalUKcitiesanddirectflightstoEurope.TheAirportalsoincorporatestheworld’slargestcommercialHeliport.
LOCATION
ThesubjectsaresituatedonthesouthsideofBurnsideDrivewithinFarburnIndustrialEstateinDyce,somesevenmilesnorthwestofAberdeencitycentre.
ThepropertyisconvenientlysituatedforaccesstoAberdeenInternationalAirportwhichisamileawayandalsothecity’snewbypassroad(AWPR).Accesstothecity’spublictransportnetworkisreadilyavailablewithbusroutesandDycerailwaystationbeingsituatednearby.
SeveralhighprofilecompaniesarelocatedincloseproximitytothepropertyincludingTechnipFMC,Plexus,FalckandNoble.Furthermore,theBPNorthSeaHQofficesaresituatedatStoneywood,whichliesadjacenttoFarburn.
RIVERVIEW DRIVE
BURNSIDE ROAD
WELLHEADS ROAD
BURNSI DE DRIVE
PARKHILL AV ENUE
DYCE ABERDEEN
INDUSTRIAL ESTATE
BURNSIDE DRIVEFARBURN
BURNSIDE DRIVE
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DESCRIPTION
ThepropertycomprisesaformerBPtrainingcentrewhichhasbeenconvertedinternallytoprovideacallcentrewithofficeaccommodation.Theoriginalbuildingisestimatedtobearound40yearsoldandcomprisesasinglestoreyofficeblockwithaflatroofandaconnectingsteelportalframedwarehousetotherear.Thewallsarerenderedconcreteblockwithprofiledmetalabovedadoheight.Anextensiontothewarehouse,ofsimilarconstruction,wasaddedaround30yearsago.
DYCE ABERDEEN
INDUSTRIAL ESTATE
BURNSIDE DRIVEFARBURN
Thepropertywasconvertedinternallyapproximately20yearsagotosuititscurrentuseasataxicallcentrewithoffices.Weunderstandthealterationsatthattimeincludedtheinstallationofsuspendedceilingsandaraisedfloortothecallcentrearea.Theremainderofthepropertyissub-dividedtoformcellularoffices,breakoutareas,lecturerooms,andkitchen/toiletfacilities.
Thepropertybenefitsfromcomfortcoolingtothecallcentreareaandgasfiredcentralheatingtotheremainder.LightingisprovidedbyCat2fluorescentfitmentsandaCCTVsystemisalsoinstalled.
Externally,thereisaparkingareatothefront,side,andrearyardspacewhichisalsousedforparking.Weestimatethataround65carscanbeaccommodated.Thesiteisenclosedbyfencing.
Boardroom
OpenPlanCallCentreArea
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ACCOMMODATION
Thepropertyhasbeenmeasuredonagrossinternalbasistobeapproximately11,350sqft(1,054.6sqm)andisdividedasfollows:
Description Area (Sq Ft) Area (Sq M)
Front Offices 3,130 290.8
Call Centre 3,900 362.4
Rear Offices 4,320 401.4
Total 11,350 1,054.6
TENURE
Ourclient’slongleaseholdinterestinthesiteisforsale.Thesiteisleaseduntil28May2125andtherentcurrentlypayableis£24,000perannum.Therentissubjectto5yearlyreviewswiththe1October2017reviewnotyetimplementedbythelandlord.
EPC
ThesubjectshaveanEPCRatingofD.
DYCE ABERDEEN
INDUSTRIAL ESTATE
BURNSIDE DRIVEFARBURN
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Year Turnover PreTaxProfit Shareholder’sFunds31/12/2017 £5,147,143 £505,471 £5,074,61231/12/2016 £4,559,744 £608,915 £7,666,79931/12/2015 £5,390,726 £864,651 £7,159,561
Year Turnover PreTaxProfit Shareholder’sFunds31/12/2017 £57,976,000 £677,000 £18,811,00031/12/2016 £54,708,000 £240,000 £26,264,00031/12/2015 £57,736,000 £1,284,000 £26,174,000
Theguarantor,CityFleetNetworksLimited,theholdingcompany,hasaD&Bratingof4A1andtheiraccountsforthelastthreeyearsaresummarisedbelow:
COVENANT
ComputerCab(Aberdeen)LimitedisalongestablishedtaxifirmoperatingprincipallyinAberdeenandAberdeenshirebutisalsopartofalargergroupoftaxicompanieswithoperationsinLondon,LiverpoolandEdinburgh.Thetenantcompanywasincorporatedin1983.
ThecompanyhasaD&Bratingof2A1andtheiraccountsforthelastthreeyearsaresummarisedbelow:
TENANCY
ThebuildingispresentlyleasedtoComputerCab(Aberdeen)LimitedonaFRIbasisforaperiodof10yearsfrom21stJune2018to20thJune2028,subjecttoatenant’sbreakoptiononthe5thanniversary,upongivingtwelvemonthsnoticeandapenaltyofthreemonthsrent.Ifthetenantdoesnotexercisethebreakoptionarentfreeperiodofthreemonthswillapply.
Thepassingrentis£105,000perannum,subjecttoarentreviewatthe5thanniversary.Thetenantisalsoresponsibleforpayinghalfthegroundrent,subjecttoaceilingof£14,000.Accordingly,thetotaloccupationalrentpassingispresently£117,000perannum.
TheleaseisguaranteedbyCityFleetNetworksLimited.
DYCE ABERDEEN
INDUSTRIAL ESTATE
BURNSIDE DRIVEFARBURN
StaffBreakoutArea
OpenPlanOffice
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VIEWING Toarrangeaviewingorforfurtherinformation,pleasecontactthesoleagents:
VATThepropertyhasbeenelectedforVATanditisanticipatedthatthesalewillbetreatedasaTransferofaGoingConcern.
PROPOSAL
Weareinstructedtoseekoffersinexcessof£550,000forourclient’slongleaseholdinterestintheaboveproperty,exclusiveofVAT.
Apurchaseatthispricewillshowaveryattractiveinitialyieldof16.15%,basedonthenetrent,afterdeductionofpurchaser’scostsandLBTT.
RydenisalimitedliabilitypartnershipregisteredinScotland.MessrsRydenLLPforthemselvesandforvendorsorlessorsofthispropertywhoseagentstheyaregivenoticethat:(i)theparticularsaresetoutasageneraloutlineonlyfortheguidanceofintendedpurchasersorlessees,anddonotconstitute,norconstitutepartof,anofferorcontract;(ii)alldescriptions,dimensions,referencetoconditionandnecessarypermissionsforuseandoccupation,andotherdetailsaregivenwithoutresponsibilityandanyintendingpurchasersortenantsshouldnotrelyonthemasstatementsorrepresentationsoffactbutmustsatisfythemselvesbyinspectionorotherwiseastothecorrectnessofeachofthem;(iii)nopersonintheemploymentofMessrsRydenLLPhasanyauthoritytomakeorgiveanyrepresentationorwarrantywhateverinrelationtothisproperty.May2019.
RydenLLP25AlbynPlaceAberdeenAB101YL
DYCE ABERDEEN
INDUSTRIAL ESTATE
BURNSIDE DRIVEFARBURN