Parsons Peebles, Wood Road, Rosyth Business Park, Rosyth, KY11 2EA

Guide Price* : £1,100,000

Well Let Industrial Investment

  • Well Let Industrial Investment
  • Annual rent of £170,000 pa . Reflecting an attractive NIY of 14.6% in relation to the Guide Price
  • 3 buildings on 0.939 hectare (2.32 acre) site
  • Let to Parsons Peebles Generation Limited
  • Established Industrial Location

Description

The subject comprises a former foundry with 3 buildings on the 0.939 hectare (2.32 acre) site.

The main unit comprises a brick built, steel portal frame manufacturing unit known as building 131. This unit is primarily used for engineering with ancillary office and staff accommodation. There are two rooms at first floor level which are used as storage. The eaves height is 10.60m in the main warehouse and 4.75m in the interconnecting warehouse.
There are overhead cranes, with a 15 tonnes safe load capacity, within the main warehouse and the facility has one of the most comprehensive motor and generator test facilities in Europe, with direct full load testing and capacity at 50 and 60Hz up to 8MW/50 MVA for generators and voltages up to 15 kW.

To the west of the main building there is a detached storage unit known as building 149. This unit is of steel portal frame construction with brick walls. To the east of the main building is a detached, single storey office building known as building 1022.

Location

The subjects form part of the larger Rosyth Royal Dockyard with the main uses being naval shipbuilding, manufacturing and freight logistics.

The subjects are located on the north side of Wood Road, one of the main roads through the Dockyard. Nearby occupiers include Babcock and Fife College.

The property is situated within Rosyth Business Park on the north side of the Firth of Forth around 1.6km (1 mile) west of the M90 motorway. The M90/A90 provides access to the north including Dundee and Aberdeen and to the south via the new Queensferry Crossing to Edinburgh and the M8, the main route to Glasgow.
Inverkeithing Railway Station and Rosyth Railway Station are 5 minutes’ drive from the subjects and provide a link to Edinburgh, Glasgow, Aberdeen and Dundee via the national rail network.

The roll on/roll off ferry terminal is located at the waterfront immediately to the south. This terminal acts as a hub for European freight and provides links to Northern Europe and beyond.

Road: Edinburgh (15 Miles North West). Dunfermline (4 Miles South).
Ferry: Queensferry Crossing (1.8 Miles)
Air: Edinburgh International Airport (9.9 Miles)

Tenure

Freehold

Tenancy

The property is let to Parsons Peebles Generation Ltd. A new lease was agreed from 28th July 2018 expiring on 27th July 2033 with a tenant break option on 28th July 2028.
The current passing rent is £170,000 per annum (£3.98 psf). The rent is subject to 5 yearly open market rent reviews, the next review is 28th July 2023.

Parsons Peebles was founded over 100 years ago and are a rapid response, full scope supplier of electromechanical products and services globally. They operate from 11 sites across the UK and utilise a global sales network with which they offer new equipment, workshop services, site services and parts for motors & generators, pumps, gearboxes, compressors and other rotating machinery.

Parsons Peebles Generation Ltd is a subsidiary of Parsons Peebles Group Limited. Parsons Peebles ownership sits within Clyde Blowers Capital which is one of Scotland’s largest industrial investment managers with 8 global companies operating in the oil & gas, renewables, power, water, mining and minerals sectors.

Please see the legal pack for full details.

Planning Authority

Fife Council

Bidder Registration

For clarification, before being approved to bid, we require the following from all bidders, the documents must be certified by a solicitor who is a member of the law society and be sent from the certifiers e-mail to aarthy@574.co.uk:

• Certified copies of Government issued ID –provided by the certifying solicitor
• Proof of address from within the last three months – provided by the certifying solicitor

The certification must comply with HMRC requirements:
• a statement that the document is “Certified to be a true copy of the original seen by me” and where appropriate, “This is a true likeness of the person” from a person who is competent at document inspection and impostor detection, such as a person from a regulated industry or in a position of trust
• an official stamp of the person certifying and indication of professional status
• been signed and dated with a printed name
• the occupation and address or telephone number

If bidding as a company we will require confirmation of the company name and number and documentation from all persons with significant control.

VAT

We understand the property has been elected for VAT and that it is envisaged the sale will be dealt with as a TOGC

Accomodation

Address Accommodation Sq M Sq Ft
131 Warehouse 3,389 36,484
149 Storage 301 3,238
1022 Offices 281 3,028

Contact

Vendor's solicitor

Burness Paull LLP
Barry Herbertson
0131 473 6009
barry.herbertson@burnesspaull.com

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.

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The successful purchaser will be required to pay the auctioneers administration fee of £990 inclusive of VAT on purchases of £20,000 and above and £240 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.


Office Contact

Brontie Peacock
07591 384 573

Vendors Solicitor

Barry Herbertson
0131 473 6009

Related Documents

Agreement Documents


Subject to Contract and Exclusive of VAT © Lambert Smith Hampton July 2020

Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any ("LSH") for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.