UNIT 2 • SANDFORD BUSINESS PARK SOUTH BAY ACCESS ROAD • PETERHEAD

A new build unit with large yard constructed on a regular shaped site with roadside prominence and good access from the main road.

The specification includes:
• Steel portal frame construction
• Part brick and profile metal insulated cladding to all other elevations
• Profile metal insulation to roof with roof lights
• Floor loading to 30 kN per m sq
• Mezzanine floor loading 7.5 kN per m sq
• Trade Counter, offices, welfare and store area
• Clear internal eaves to 6.0 m to underside of haunch
• 100 KVA electric supply
• High level LED lighting to warehouse
• Brush finished concrete yard
• 18 dedicated car parking spaces
• Fully fenced (2.4 metres) and secure site

EXECUTIVE SUMMARY

• New build completed in September 2021
• Prominently located on S Base Road just off Invernettie Roundabout at the entrance to Peterhead
• 12,500 sq ft ground floor internal area, plus a 3,200 sq ft mezzanine area
• Excellent sustainability features including an EPC A, 2 EV charging bays and photovoltaic roof
• Surrounding occupies include Arnold Clark, B&Q, KFC, McDonalds Score Europe Limited, Lunar and Finnie 4x4
• Freehold
• Let to MkM Building Supplies Limited on a 20 year lease from 23rd September 2021 to 22 September 2041
• The rent will be topped up to take in to account the forthcoming 2026 rent review. The rent passing is £229,223 per annum
• The lease is subject to 5 yearly rent reviews based upon RPI increases capped and collared 1.5% to 3.5% per annum. The next rent review is September 2031
• The lease is guaranteed by MKM Building Supplies (Group) Limited
• MKM are an exceptional covenant with an Experian score of 100/100
(Very Low Risk)
• Offers are sought in excess of £3,310,000 (Three Million, Three Hundred and Ten Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial yield of 6.50%, net of full purchasers costs.

LOCATION

Peterhead is 30 miles north of Aberdeen and represents one of Aberdeenshire’s principal service and employment centre. The town has a varied economic base with major employment opportunities being in fishing, onshore support for the oil industry, manufacturing, food processing and the service industry. Peterhead has a population of 24,000. The subject property is located to the South of Peterhead on South Base Road just off Invernettie Roundabout. The site provides quick access to the A90 which is the main route in to Peterhead.

TENANCY

The rent will be topped up to reflect the forthcoming September 2026 rent review, resulting in a rent passing of £229,223 per annum. The lease is subject to five-yearly rent reviews linked to RPI, capped and collared between 1.5% and 3.5% per annum, with the next review due in September 2031. The lease is guaranteed by MKM Building Supplies (Group) Limited.

WARRANTIES

A full suite of warranties will be made available to the purchaser.

VAT

The property is elected for VAT although it is anticipated that the sale will be structured as a Transfer of a Going Concern (TOGC).

ANTI-MONEY LAUNDERING POLICY

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

DATAROOM

A data room has been set up with relevant documentation; access is available on request.

PROPOSAL

Offers are sought in excess of £3,310,000 (Three Million, Three Hundred and Ten Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial yield of 6.50%, net of full purchaser’s costs.

CAPITAL ALLOWANCES

The seller will retain all capital allowances.