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5 Pinefield Parade 80,000 SF 100% Leased Industrial Building Elgin IV30 6AG $1,276,202 CAD ($15.95 CAD/SF) 5.99% Cap Rate
Investment Highlights
- Low site coverage (~17.2%) offering asset management potential
- Strong tenant financials and long occupation history (since 1977)
- Close to major occupiers and key transport links including the A96
- Established industrial location within Pinefield Industrial Estate
- 40 parking spaces
Executive Summary
This is a highly reversionary industrial ground lease investment opportunity located at 5 Pinefield Parade, Elgin. The property is let to Keyline Civils Specialist Ltd (trading as Travis Perkins) on a long, uninterrupted lease expiring 15 May 2041, with no break options and upward-only rent reviews every 7 years. The passing rent is £42,500 per annum following the May 2025 review, providing a strong income profile. The tenant has a solid covenant, with a Dun & Bradstreet rating of 5A3 and significant net worth. The investment offers attractive reversionary potential, with a low site coverage and a long-standing tenant in occupation since 1977.
Property Facts
| Price | $1,276,202 CAD | Building Class | C |
| Price Per SF | $15.95 CAD | Lot Size | 1.94 AC |
| Sale Type | Investment | Rentable Building Area | 80,000 SF |
| Cap Rate | 5.99% | No. Stories | 2 |
| Tenure | Long Leasehold | Year Built | 1978 |
| Property Type | Industrial | Parking Ratio | 0.5/1,000 SF |
| Property Subtype | Warehouse |
| Price | $1,276,202 CAD |
| Price Per SF | $15.95 CAD |
| Sale Type | Investment |
| Cap Rate | 5.99% |
| Tenure | Long Leasehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.94 AC |
| Rentable Building Area | 80,000 SF |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 0.5/1,000 SF |
Amenities
- Mezzanine
- Storage Space
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5 Pinefield Parade
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