FOR SALE

QUALITY BUSINESS PARK INVESTMENT OPPORTUNITY

ATTRACTIVE OFFICE PAVILION IN ANEXCELLENT CENTRAL SCOTLAND LOCATION

1 DOVE WYNDSTRATHCLYDE BUSINESS PARK ML4 3AL

MERCURY HOUSE

Strathclyde Business Park provides over 1.4 million sq ft of business and amenity space within a high quality landscaped parkland setting of approximately 155 acres. The park has grown steadily over the past 20 years since development first began in the early 1990s, and is now one of Central Scotland’s largest and most successful business parks. Strathclyde Business Park is home to over 240 businesses and around 6,300 staff, with major occupiers including Scottish Power, NG Bailey, Scottish Enterprise and Wood Group.

Strathclyde Business Park benefits from site wide CCTV coupled with 24 hour security patrol providing complete peace of mind.

On site amenity provision is excellent, with a DoubleTree by Hilton hotel, several restaurants including The Avondale Bar & Grill, sandwich bars such as Food 2 Go and Café Gusto, Papillon Nursery, a convenience store, Living Well Fitness Centre and banking facilities; making the park an attractive option for occupiers. The park has an active park-wide car share scheme.

Mercury House is located on Dove Wynd occupying a prominent site at the entrance of Strathclyde Business Park. Mercury House provides the park a landmark to traffic travelling along the A725.

• Prominent office pavilion at the entrance of Strathclyde Business Park

• Excellent location with easy access to the Central Scotland motorway network, well connected to Glasgow, Edinburgh and beyond

• Highly successful business park with excellent amenity provision and a number of high profile occupiers

• The entire building of 64,146 sq ft and 350 parking spaces let to Virgin Media Limited on FRI terms until 31 January 2020

• Passing rent of £872,000 per annum equating to £13.59 per sq ft

• Offers are invited for our client’s heritable interest

STRATHCLYDE BUSINESS PARKMERCURY HOUSE

EXECUTIVE SUMMARYMERCURY HOUSE

1 DOVE WYNDSTRATHCLYDE BUSINESS PARK ML4 3AL

MERCURY HOUSE

SHAWHEADINTERCHANGE

BAILIEISTONINTERCHANGE

BARGEDDIEJUNCTION

OLD EDINBURGH ROADNEW EDINBURGH ROAD

AITKE

NHEA

D ROA

D

NORTH ROAD

BELLSH

ILL RO

AD

UDDINGSTON ROAD

RAITHINTERCHANGE

M8 / EDINBURGH(38 MILES)

M8 / GLASGOW(12 MILES)

M73

A721

M74

4

5

8 A752

A8

A8

M8

M8

A725

A89

7

Strathclyde Business Park is in North Lanarkshire, around 2 miles north west of Bellshill and in close proximity to other towns such as Motherwell, Hamilton, Coatbridge and Airdrie. Strathclyde Business Park is extremely well connected, with easy access to the Central Scotland motorway network. The park is located just west of the A725 and south of the Shawhead Interchange, which links directly to the A8/M8 running from east to west, and on to the M73

linking to the M80 running north. The Raith Interchange junction is 2.5 miles to the south of the park, connecting to the M74 running south. There is a recently completed £500 million motorway improvement project that has upgraded the A8/M8, M73 and M74 road network, which includes major improvements to the Raith Interchange and a new motorway junction at Shawhead to the realigned M8. The park benefits from three dedicated bus stops on Phoenix Crescent, which circles the park. The 299 service links the park to Bellshill and Hamilton, with the timetable dovetailed to the train services at Bellshill train station (2 miles), providing a link to national rail services. Glasgow and Edinburgh Airports are both within a 30 minute drive time of Strathclyde Business Park.

Mercury House is well located within the west of Scotland’s premier out of town office destination, Strathclyde Business Park. Strathclyde Business Park lies approximately 12 miles to the east of Glasgow, Scotland’s largest city with a population of circa 608,500 people and a wider catchment of 2.3 million, equivalent to around 40% of Scotland’s total population.

LOCATIONMERCURY HOUSE

1 DOVE WYNDSTRATHCLYDE BUSINESS PARK ML4 3AL

MERCURY HOUSE

BELLSHILL BYPASS A725

PHOENIX CRESCENT

M74 (JUNCTION 5)

M8 (JUNCTION 7)

M8GLASGOW CITY CENTRE EDINBURGH

M8 3 minsMotherwell 12 minsGlasgow City Centre 18 minsEast Kilbride 20 mins Glasgow Airport 25 minsEdinburgh 30 mins

DRIVE TIMESMERCURY HOUSE

1 DOVE WYNDSTRATHCLYDE BUSINESS PARK ML4 3AL

MERCURY HOUSE

MORRISONS DISTRIBUTION CITIBASEWILLIAM GRANT & SONS DISTILLERS SCOTTISH ENTERPRISE HFD GROUP PPD NG BAILEY WOOD GROUPDOUBLETREE BY HILTONLIVINGWELL HEALTH CLUBSCOTTISH POWER TARMAC

7,255 7,255

1 Dove Wynd occupies one of the first developed sites on this well established business park. The building was completed in 1993 and provides open plan office accommodation over ground, first and second floors. The building is of steel frame construction with brick elevations beneath a roof arranged in two pitched sections that have been clad in tile around a central lightwell.

DESCRIPTIONThe building was developed with 350 car spaces within a car park area that has been finished in brick pavier. This provides a car parking ratio of 1:183, significantly better than the typical ratio for business parks in the west of Scotland that tends to be between 1:300 and 1:500. The remainder of the site is finished in soft landscaping in keeping with the landscaping of the wider business park.

From the building’s reception there are two 13 persons passenger lifts serving all floors. There is a main staircase leading from reception to first and second floors. There are three additional stair cores within the building and toilet facilities on each floor.

The general specification of the building includes:

• 150mm raised access floors• Suspended ceilings• Air conditioned offices• 2.7 metres clear floor to ceiling height• Male, female and disabled toilet facilities

The building was originally designed with an element of workshop and storage space at ground floor along with the building’s plant room. The workshop area has been fitted out by the tenant as additional office space.

In the event of a mains electrical supply failure there is a diesel generator housed in a separate outbuilding to the rear of Mercury House.

MERCURY HOUSE

ACCOMMODATIONMERCURY HOUSE

DEMISE (USE) AREA NIA

SQ M SQ FT

Ground Reception 114.36 1,231

Ground Offices 899.20 9,679

Ground Former Warehouse 674.01 7,255

First Offices 2,171.03 23,369

Second Offices 2,100.71 22,612

TOTAL 5,959.31 64,146

The building has the following net internal area.

The site has an approximate area of 2.05 hectares (5.065 acres).

Heritable interest (Scottish equivalent of English Freehold).

The entire subjects were originally let to Mercury Communication Limited, now Vodafone Enterprise UK on a FRI lease from 5 August 1993 to 4 August 2018. Mercury House is sub-let to Virgin Media Limited on terms effectively equivalent to the head lease. Virgin Media Limited have agreed an extension of their occupation until 31 January 2020 on the terms of the original lease including the rent remaining at the passing level of £872,000 per annum equating to £13.59 per sq ft.

TENANCY TENURE

COVENANT INFORMATION

MERCURY HOUSE MERCURY HOUSE

MERCURY HOUSE

Virgin Media is the leading cable operator in the UK and Ireland, delivering 14.4 million broadband, video and fixed-line telephony services to 5.9 million cable customers and mobile voice and data services to 3.1 million subscribers at December 31, 2017.

Virgin Media Ltd has a Dun & Bradstreet rating of 5A1 with a sales turnover of £546,394,000 for the year ended 31 December 2016 and a pre-tax profit of £851,371,000.

EPC

VAT

PRICINGMERCURY HOUSE

MERCURY HOUSE

MERCURY HOUSE

The building has an Energy Performance Certificate Rating of D.

The property is elected for VAT purposes and it is anticipated that the investment will be treated as a TOGC.

Offers are invited for our client’s heritable interest.

For further information or to arrange a viewing, please contact:

Stuart Spaldingstuart.spalding@cushwake.com0141 304 3243

Cushman & Wakefield LLP on their own behalf and for vendors or lessors of this property, whose agents they are, gives notice that: 1/ The particulars are produced in good faith, but are a general guide only and do not constitute any part of a contract. 2/ No person in the employment of the agent(s) has any authority to make or give any representation or warranty whatsoever in relation to this property. 3/ The property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT. 4/ Nothing in these particulars should be deemed a statement that the property is in good condition, or that any services or facilities are in working order. 5/ Unless otherwise stated, no investigations have been made regarding pollution, or potential land, air or water contamination. Interested parties are advised to carry out their own investigations if required. Publication date: September 2018.

Carolyn McEwancarolyn.mcewan@cushwake.com0141 304 3258

FURTHER INFORMATIONMERCURY HOUSE

FOR SALE

QUALITY BUSINESS PARK INVESTMENT OPPORTUNITY

ATTRACTIVE OFFICE PAVILION IN ANEXCELLENT CENTRAL SCOTLAND LOCATION

1 DOVE WYNDSTRATHCLYDE BUSINESS PARK ML4 3AL

MERCURY HOUSE