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Burghead MF - Burghead MF 19.3 Acres of Commercial Land Offered at $2,199,976 CAD in Burghead IV30 5XU
Investment Highlights
- Two separate sites totaling 19.30 acres.
- Site B offers good development potential (subject to planning) spanning 8.40 acres.
- Site A offers an attractive rent of £150,000 per annum over a term of 10 years and includes a c. 5,900 sq ft building
Executive Summary
Site A: 10.90 acres -including a c.5,900 sq ft (ground floor) building (GIA):
A rare, high yielding opportunity let to Arqiva, an international covenant, on anew 10-year leasewith a tenant option to break after the 7thyear, subject to a penalty equivalent to 6 months rent. Passing rent will be £150,000 per annum.
Underlying refurbishment / development opportunity (subject to planning).
Site B: 8.40 acres -presents a development opportunity (subject to planning).
We are inviting offers on the following basis -Independently or together:
Site A: Sale and Leaseback, unconditional offers only (Overage on planning might be considered)
Asking £1,200,000 subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 11.69%, assuming purchaser's costs of 6.93%.
Site B: Inviting Offers on an unconditional basis or STP (Overage on planning might be considered).
Property Facts
| Price | $2,199,976 CAD | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Condition | Sale Leaseback | Proposed Use | Commercial |
| Tenure | Freehold | Total Lot Size | 19.30 AC |
| No. Lots | 1 |
| Price | $2,199,976 CAD |
| Sale Type | Investment |
| Sale Condition | Sale Leaseback |
| Tenure | Freehold |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Commercial |
| Total Lot Size | 19.30 AC |
1 Lot Available
Lot
| Price | $2,199,976 CAD | Lot Size | 19.30 AC |
| Price Per AC | $113,988.39 CAD |
| Price | $2,199,976 CAD |
| Price Per AC | $113,988.39 CAD |
| Lot Size | 19.30 AC |
Two adjacent sites totaling 19.30-acres,on the east side of Burghead. Site A: 10.90 acres -including a c.5,900 sq ft available by way of leaseback - £1.2m. Site B: 8.40 acres - development opportunity - Inviting Offers.
Description
Site A: (one lease) 10.90 acres The main building is in good condition and comprises a ground floor of 5,920 sqft with a further 2,023 sqft at first floor with part being a secure nuclear shelter accessed externally. Ground Floor internal heights are 2.35m in the offices and workshop, 5.18m in the Transmitter Hall and the first-floor plant room height is 3.84m. The building is constructed of blockwork with a flat roof, considerable concrete yard to the entrance and to the front and side are 3 roller shutter doors. Internally, the building is of a good specification comprised of a concrete floor, strip The building has potential for conversion to industrial or residential (subject to planning). A second building/enclosure is used as a fuel bund. There are other smaller buildings on site used as outbuildings. Power -Currently on site, there is an electrical capacity of 490 KVAand with the radio towers, it could offer precedent for implementing other uses such as wind turbines for example (subject to planning). Cellnex Tower will be retained in the vendors possession. A right of way will be required from the main entrance road to allow access. Site B: - 8.40 acres The north site is available with vacant possession, either on an unconditional or subject to planning basis. We envisage the land to have good prospects for alternative development. If the sites are sold separately, a right of way will be afforded to site B from the main access road. Upon vacating, Arqiva will undertake any decommissioning works with removal of the masts and stay lines, but the concrete stay blocks will remain. 3
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Burghead MF - Burghead MF
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