Industrial

Howden, Old Govan Road, Braehead , Glasgow  PA4 8XJ

 

Acting on behalf of MAS REI, we are instructed to sell this strategic industrial repositioning opportunity.

The subject property is prominently located on Old Govan Road opposite the Intu Shopping Centre with extensive frontage onto King’s Inch Road, the main arterial route through Braehead. The property comprises a substantial 1960’s built manufacturing facility extending to 204,414 sq ft GIA on a self contained, secure site extending to 10.68 acres.

FRI lease (subject to a schedule of condition) to James Howden & Co Ltd expiring 12th February 2025 providing 4.45 years unexpired. The landlord benefits from a landlords break at any time upon 18 months notice and total current passing rent is £762,615 p.a, which reflects a very low £3.73 psf. There are RPI linked rent reviews on 12th February 2021 and 2024.

The upcoming lease expiry in February 2025 provides an excellent opportunity to enter early re-gear negotiations with the tenant or alternatively explore redevelopment options across the site. The property is close to the end of its economic life and will require comprehensive refurbishment or total redevelopment when vacant possession is obtained. Significant under supply across 100,000-200,000 sq ft size brackets in Scotland continues to put upward pressure on rents.

Unconditional offers invited for the Scottish heritable interest, subject to contract.

Contact

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk

Julian Gallagher

Tel: 020 7493 3330
Mob: 07941 413 299
jgallagher@lewisellis.co.uk


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