Thistle Portfolio

A Multi Sector Portfolio of Scottish Property Assets

• 13 properties / 22 tenants across the industrial, retail, office and automotive sectors.
• Located in Aberdeen, Ayr, Glasgow and Inverness.
  
• Low vacancy rate of 7%.
• Heritable (Scottish equivalent of Freehold).
• Tenant highlights include Volkswagen Group UK Limited, Wolseley plc, Clydesdale Bank plc (Virgin Money) and Aalco Limited.
• The assets are leased to a diverse range of tenants with 72% of the rent secured against tenants with very low risk credit ratings.
• Total passing rent of £1,685,991.98 per annum.
• WAULT of 5.3 years to expiries and 3.5 years to breaks.
• There are significant opportunities to add value through new lettings and upcoming lease events.
• Offers over £16,000,000 exclusive of VAT.
• High net initial yield of 9.96%.
• All the assets are held in a single investment company and our client has a preference for a corporate sale. On the basis of reduced costs of 2.3% the price would show a net initial yield of 10.30%.