Scots constructing sells for a cool £4 million

A SCOTS constructing has offered for a whopping £4.3 million after a extremely compeititive bidding course of.

The Orbital Home in Kilbride, close to Glasgow, has been acquired by a HKIP-sponsored funding car.

Orbital House.
Orbital Home.

The deal represents a internet preliminary yield of 15%, with unbiased industrial property consultancy Knight Frank representing the purchaser.

The constructing includes 69,358 sq. ft. of workplace area and has robust sustainability credentials after present process a current refurbishment – attaining an EPC ranking of A.

Its present occupiers embrace Veolia, Shut Brothers, and Goal Healthcare.

A picture reveals the tall constructing with giant bay home windows reflecting onto a watery floor on the entrance of the constructing.

The solar may be seen shining on the large constructing because the newly-bought constructing seems vacant of all guests – till it adjustments palms.

Douglas Binnie, capital markets accomplice at Knight Frank Glasgow, mentioned: “There was a robust degree of curiosity in Orbital Home, with a number of bids from buyers.

“The 15% yield is engaging, however the asset additionally advantages from comparatively restricted native competitors and has quite a few nice options – significantly after its current refurbishment.

“There may be an growing degree of investor curiosity in high quality enterprise park property in Scotland’s central belt, as occupier exercise picks up and really restricted new inventory is coming by means of within the improvement pipeline.”