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Thistle Portfolio

Aberdeen, Glasgow, Ayr, Inverness
For Sale
Type: Investment

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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%.

Thistle Portfolio