FOR SALE/TO LET MODERN OPEN PLAN OFFICE ACCOMMODATION Cumbrae House & The Stables Carlton Court, Glasgow Colliers International 9 George Square GLASGOW G2 1DY +44 141 226 1000 www.colliers.com/uk/industrial
SUMMARY OF OPPORTUNITY Attractive multi-let office investment consisting of two separate buildings available For Sale or Lease. Range of available accommodation offering choice for occupiers and a range of asset management opportunities for investors. Potentially suitable for acquisition by an Owner Occupier or for alternative use development. The Properties qualify for Empty Rates Relief by virtue of their listed status. Rent Passing 119,910, which presents a significant opportunity to increase the Rental Income Stream. The property remains available for lease on flexible terms, subject to negotiation. Offers are sought for the Heritable interest on both Cumbrae House and The Stables, or either property in isolation.
SCHEDULE OF TENANCIES & ACCOMMODATION
LEASING INFORMATION CUMBRAE HOUSE Location The subjects are located in the middle of Carlton Court on the South Bank of the River Clyde. The subjects benefit from good access to and from the M8 motorway as well as being in close proximity to rail and bus networks. Glasgow Central railway station is within 350m of the property and there are a number of bus routes which run along Bridge Street and provide direct access in and out of the city centre. Dedicated kitchen facilities Fully carpeted DDA compliant Accommodation In accordance with the RICS Code of Measuring Practice (6th Edition), we calculate the property extends to the following net internal areas: sq m sq ft Basement Store 46.0 495 Ground (W) 348.1 3,745 Ground (N-E) 179.2 1,929 Ground (S-E) 86.0 926 1st Floor Offices 733.7 7,898 2nd Floor (S-W) 249.0 2,680 2nd Floor (N-W) 152.9 1,646 2nd Floor (E) 300.3 3,232 3rd Floor 418.1 4,500 4 Spaces (6, 15, 16 & 17) - - 16 Spaces - - TOTAL 2,513.3 27,051 Lease Terms The accommodation is available on flexible lease terms. Description Cumbrae House was built in 1938 as showrooms and offices for Cowen's Ideal Trading Stamp Company (Glasgow) Ltd. It has since been converted in to high quality office accommodation providing bright open plan office suites. We have two good quality suites available within Cumbrae House which provide modern open plan office accommodation. The suites benefit from the following: Energy Performance Rating The property has a valid Energy Performance Certificate, a copy of which is available from the sole selling agents. The subjects are currently rated G for Energy Performance. Rent Service Charge Suspended ceilings incorporating modern recessed lighting Perimeter trunking Central heating throughout
LEASING INFORMATION THE STABLES Location The subjects are located in the middle of Carlton Court on the South Bank of the River Clyde. The subjects benefit from good access to and from the M8 motorway as well as being in close proximity to rail and bus networks. Glasgow Central railway station is within 350m of the property and there are a number of bus routes which run along Bridge Street which provide direct access in and out of the city centre. sq m sq ft Ground Front (Suite 4) 132.7 1,428 Ground Rear 99.6 1,072 First Rear 145.7 1,568 Second Rear 122.0 1,313 1st, 2nd & 3rd Front 409.9 4,412 Parking (Yard) - - TOTAL 909.9 9,763 Lease Terms The accommodation is available by way of a short term licence or long term lease dependent on individual preference. Energy Performance Rating The property has a valid Energy Performance Certificate, a copy of which is available from the sole selling agents. The subjects are currently rated D for Energy Performance. Rent Service Charge Legal Fees Each party shall be responsible for their own legal, surveying and professional fees arising from this transaction. Description The Stables is a former stables complex converted to offices in the 1980 s. All the offices have been upgraded and now offer bright modern open plan office accommodation. In the normal manner the ingoing tenant will be responsible for any Registration Dues and SDLT incurred in this transaction. VAT All prices, rents, premiums, etc. are quoted exclusive of VAT. Internally the available suites benefit from perimeter trunking, a mixture of panel and upper lighting, electric heating with male and female toilet facilities. All suites have secure door entry systems. Accommodation In accordance with the RICS Code of Measuring Practice (6th Edition), we calculate the property extends to the following net internal areas:
Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is a limited liability partnership registered in England and Wales with registered number OC385143. Our registered office is at 50 George Street, London W1U 7GA. Cumbrae House & The Stables Carlton Court, Glasgow PROPOSAL The property is offered on a For Sale/To Let basis. Sale Offers are sought for my client s Heritable Interest in both Cumbrae House and The Stables. The properties are physically separate and suitable for acquisition together or in isolation by investors or owner occupiers alike. Lease The space offers flexible accommodation over a number of floors (with the option of Car Parking) which is available to lease on terms to be negotiated. Please contact the sole leasing agent to arrange an inspection. CONTACT US Viewing is strictly by prior appointment with Colliers International, through: Matt Bellshaw Offices & Development Agency +44 141 226 1106 matt.bellshaw@colliers.com Tom Fulton National Investment +44 141 226 1038 tom.fulton@colliers.com Misrepresentation Act Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party 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. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. October 2013