• MODERN INDUSTRIAL / DISTRIBUTION
UNIT BUILT IN 2003 COMPRISING GIA OF
4,874 SQM (52,467 SQFT).
• FULL REPAIRING AND INSURING LEASE
TO SAINT GOBAIN BUILDING DISTRIBUTION
LIMITED (D&B 5A1) UNTIL 27 APRIL 2023.
• ANNUAL RENT OF £215,000 PER ANNUM
EXCLUSIVE (£4.10 PSF).
• HERITABLE INTEREST.
• OFFERS INVITED IN EXCESS OF £2.46M
EXCLUSIVE OF VAT.
• NET INITIAL YIELD OF 8.26%.
FOR SALE
UNIT 2
ADMIRALTY
BUSINESS
PARK
ROSYTH / FIFE / KY11 2YW
Location
Rosyth is located on the North bank of the Forth Estuary, 2 miles west
of the Forth Road Bridge. The town was built in the Garden City model
to house workers constructing the docks in the early 1900s, establishing
a link with the Royal Navy that continues to this day.
The importance of the waterfront and port facilities at Rosyth has
evolved in recent years into Scotland’s Gateway to Europe. The local
economy has successfully diversified into areas such as construction,
financial services and marine engineering.
The area around Rosyth benefits from excellent road and rail
connections as well as accommodating a busy shipping container
terminal. This level of connectivity has attracted major investment
including Rosyth Europarc, Carnegie College’s new campus and the
one million square foot Amazon Fulfilment Centre.
Work has begun on the £1.5 billion Forth Replacement Crossing which
is estimated to have generated some £20 million worth of work for sub-
contractors and suppliers in the local area. Similarly, assembly of the Royal
Navy’s new HMS Queen Elizabeth aircraft carrier is underway, capitalising
on local infrastructure, marine engineering expertise and naval tradition.
These significant developments are taking place alongside wider
strategic improvements including Edinburgh Airport’s enhancements,
settlement expansion of Dunfermline and renewable energy
investments locally. This puts Rosyth at the heart of Scotland’s
re-industrialisation and economic recovery.
1 THE PROPERTY
2 Meridian (Morpol)
3 Meridian (Morpol)
4 Lloyd’s Banking Group
5 Babcock International
6 Oceaneering
7 Rosyth Ferry Terminal
8 Forth Ports Rosyth
Situation
The property is situated within Admiralty Park which is
positioned adjacent to the A985, close to its junction
with the A823. The A985 leads directly to Junction 1 of
the M90 motorway which is approximately one mile
to the east. The property can also be accessed via dual
carriageway from Junction 2 of the M90.
The property is situated adjacent to the former Lexmark
Factory which has been acquired by Meridian (Morpol)
and is being refurbished into a state of the art salmon
production factory.
UNIT 2 ADMIRALTY BUSINESS PARK
ROSYTH HAS
ATTRACTED
MAJOR
INVESTMENT
LINE OF FORTH
REPLACEMENT
CROSSING
1
2
3
4
5
6
7
8
M90
Description
The property was developed in 2003 and comprises a modern
industrial/distribution unit of steel portal frame construction with
walls and roof clad in insulated profiled metal sheeting. The unit has
a minimum eaves height of 6.6 metres and incorporates two storey
office accommodation within the structure which has been fitted
out in part for showroom, customer reception and staff purposes.
The unit benefits from secure reinforced concrete yardage and two
ground level vehicle access doors. In addition there is a separate
designated car park for customer and employee use.
Accommodation
The unit has a Gross Internal Area of approximately
4,874 sqm (52,467 sqft).
The showroom, staff and first floor office accommodation housed
within the structure extends to approximately 10% of the GIA. The
site area is estimated to be 1.4 Ha (3.5 acres) and this provides low
site coverage of approximately 33%.
Tenancy
The property is let in its entirety to Saint-Gobain Building
Distribution Limited on full repairing and insuring terms until 27
April 2023. The rent is presently passing at £215,000 per annum
exclusive and is subject to 5 yearly upward only rent review. The
rent review date as at 28 April 2013 has not been initiated.
Tenure
Outright ownership/Heritable (Scottish equivalent of English freehold).
Tenant Covenant
Saint-Gobain Building Distribution Limited forms part of the Saint-
Gobain Group, a French multi-national corporation, founded in 1665
in Paris, France. Saint-Gobain is a world leader in the habitat and
construction markets, the design, manufacture and distribution of
building materials. The Group employs around 193,000 employees
and 2012 sales were estimated to be Euros 43.2 Bn.
Saint-Gobain Building Distribution Limited has a Dun & Bradstreet
rating of 5A1. In the year to 31 December 2012 the company reported a
turnover of £593.7M and a net worth of approximately £153M.
Further information on the Group can be obtained via
www.saint-gobain.com.
UNIT 2 ADMIRALTY BUSINESS PARK
A77
A702
A68
A914
A80
M73
A74(M)
A720
A1
M80
M90
M80
East Kilbride
Stirling
Livingston
GLASGOW
Dunfermline
Rosyth
Perth
Glenrothes
Falkirk
A90
A8000
EDINBURGH
Dalgety Bay
Kirkcaldy
M8
M8
M9
A977
MODERN INDUSTRIAL/
DISTRIBUTION UNIT
UNIT 2
ADMIRALTY
BUSINESS
PARK
Ryden is a limited liability partnership registered in Scotland. Messrs Ryden for themselves and for vendors or lessors of this property whose agents they
are give notice that: (i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor
constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other
details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must
satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Messrs Ryden has any authority to
make or give any representation or warranty whatever in relation to this property.
VAT
The property has been elected for VAT.
Proposal
We are instructed to seek offers in excess of £2,460,000 (Two Million
Four Hundred and Sixty Thousand Pounds) exclusive of VAT for the
benefit of our client’s heritable interest.
A purchase at this level reflects an initial yield of 8.26% after allowing
for purchasers costs at 5.80%.
EPC Rating
The building has an Energy Performance Rating of 31 (C).
A copy of the certificate can be made available upon request.
FOR SALE
UNIT 2
ADMIRALTY
BUSINESS
PARK
ROSYTH / FIFE / KY11 2YW
Viewing and Further Information
Viewing is strictly by appointment with the sole selling agents,
Ryden LLP, 46 Castle Street, Edinburgh EH2 3BN
Contact: Ford Swanson Contact: Nick Armstrong
ford[email protected] nick.armstrong@ryden.co.uk
Tel: 0131 473 3236 Tel: 0131 473 3223
Date of Publication: January 2014.
