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INVESTMENT SALE Centrica Plc – Scottish Gas Headquarters 1 Waterfront Avenue, Edinburgh, EH5

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INVESTMENT SALE Centrica Plc – Scottish Gas Headquarters 1 Waterfront Avenue, Edinburgh, EH5 INVESTMENT SALE Centrica Plc – Scottish Gas Headquarters 1 Waterfront Avenue, Edinburgh, EH5 1SG Investment Summary • Landmark office investment, fully occupied by British Gas as their operational headquarters in Scotland. • Award winning, Foster & Partners’ designed Grade A office extending to 91,784 sq ft. • High quality specification and environmental credentials, having achieved BREEAM “Excellent” certification. • Located in Edinburgh, Scotland’s capital city and one of the UK’s Big 6 regional office markets. • Fully let to GB Gas Holdings Ltd (5A1 Dun & Bradstreet rating) on a full repairing and insuring lease expiring 14th September 2020. • Guaranteed by Centrica Plc, a member of the FTSE 100 index with a market capitalisation of £11.25 billion. • Current passing rent of £1,658,268 per annum (£18.16 per sq ft) with 5 yearly upward only rent reviews. • Absolute Ownership (Scottish equivalent of English Freehold). • Offers in excess of £16,875,000 (Sixteen Million, Eight Hundred and Seventy Five Thousand Pounds Sterling), subject to contract and exclusive of VAT are invited for the Absolute Ownership in the property. • A purchase at this level would represent a net initial yield of 9.25% after allowing for purchaser’s costs based on LBTT and a capital value of £183.86 per sq ft. Edinburgh Communications Edinburgh, Scotland’s capital city, sits at the heart of a CAPITAL CITY & GLOBAL BUSINESS CENTRE diverse regional economy that provides the seat of Scotland’s A926 government, is the home to the nation’s legal system and is a A933 A94 A90 Arbroath globally recognised financial centre. A92 Dundee A85 A90 A85 A85 Perth A92 (A914) A91 St Andrews A819 M90 A84 A9 A915 A91 (A92) A823 A914 A917 Glenrothes A82 A91 A815 M90 Buckhaven A977 A83 A814 Stirling Alloa A81 A92 Kirkcaldy A886 A811 M9 Dunfermline Cowdenbeath M80 Helensburgh Grangemouth A198 Bo'ness Dunoon Gourock Alexandria Falkirk Dumbarton M9 A1 A80 Cumbernauld Greenock Kirkintilloch Clydebank Bathgate EDINBURGH Musselburgh M73 A89 Dalkeith A78 M8 Airdrie Livingston GLASGOW M8 Bonnyrigg Paisley A8 A71 A70 A844 A68 Motherwell A702 A760 Newton Hamilton A706 Mearns A73 A703 A7 M77 East Kilbride A726 Carluke A841 Larkhall A701 Kilwinning M74 Ardrossan A721 A8089 Kilmarnock Irvine A72 A71 Galashiels A73 Troon A702 Prestwick A708 Edinburgh is one of the UK’s Big Six office markets. It is Scotland’s Ayr AIR A74(M) RAIL A701 A70 capital city, with a population of nearly 487,500 and a wider regional A68 EdinburghA77 Airport is located just 5.8 miles west of the city centre. Edinburgh Waverley and Haymarket are the two main line stations catchment of approximately 1.6 million. Direct flights to more than 130 destinations are available, provided located within Edinburgh city centre. by a range of 40 airlines. The city is one of the most prosperous in the UK, with the highest Edinburgh Waverley is the second largest railway station in the UK, Gross Value Added after London, at an average of £34,178 per Passenger numbers have risen to over 10 million passengers per after London, and is a principal station on the East Coast service resident. Despite being home to only 9.1% of Scotland’s population, year. As this trend is expected to continue upwards, almost £250m between London and Aberdeen. Connections are available to other Edinburgh still accounts for 15.2% of the nation’s productivity, 12.8% has been pledged to upgrading the airport over the next decade. major UK cities. of employee jobs, 10.3% of registered enterprises and 18.3% of research and development expenditure. Haymarket is a major commuter station, and since renovations in 2014 serves as a key transport interchange, allowing connections Edinburgh is widely regarded for its highly skilled workforce. The Below: European destinations from Edinburgh Airport between trains, buses, trams and taxis. city is home to four universities and over 100,000 students. Many graduates choose to stay, or move to, the city. This is reflected in the FINLAND Each station is set to benefit from infrastructure investment, with fact that 53.9% of the population hold a degree or professional level NORWAY two new platforms planned for Edinburgh Waverley, and the SWEDEN qualification. ESTONIA £1 billion Edinburgh to Glasgow (Rail) Improvements Programme. LATVIA It is unsurprising that Edinburgh is popular amongst occupiers from EDINBURGH DENMARK a wide range of sectors. As the home of the Scottish Parliament, LITHUANIA ROAD the public sector is one of the major employers in the city, as is the IRELAND BELARUS financial sector. Edinburgh is also notable however for its growing Edinburgh is the hub of Scotland’s road network and provides direct UNITED KINGDOM access to the national motorway network. Connections are available NETHERLANDS importance to companies in the fields of technology, life science and POLAND GERMANY UKRAINE to Aberdeen/Inverness/the north via the M90/A9; to Glasgow/ renewable energy. BELGIUM CZECH REPUBLIC Livingston/the west via the M8; and the south via the A1/A7. SLOVAKIA Firms that have recently been attracted to Edinburgh include AUSTRIA FRANCE HUNGARY FanDuel and Skyscanner, while Blackrock, Baillie Gifford and Rockstar SWITZERLAND SLOVENIA ROMANIA North are amongst those who have expanded. CROATIA TRAM BOSNIA & HERZEGOVINA SERBIA Edinburgh’s tram system commenced operations in May 2014. This BULGARIA ITALY Edinburgh has seen major investment in its infrastructure and KOSOVO 14km route runs between the airport and the city centre, providing MACEDONIA attractions over recent years, and these ongoing improvement works PORTUGAL links between the city’s main commercial and residential sites. ALBANIA MADRID have seen the city win several major awards. These include the SPAIN GREECE award for Best Foreign Direct Investment Strategy (Financial Times fDi Magazine, 2014), and Favourite UK City (The Guardian/Observer) received in 13 consecutive years. F O R T H R O A D TRAM Under the Llewelyn-Davies plan the B R I D Under the original proposals for Granton Waterfront would be split into G 1 Waterfront Avenue Location E Edinburgh’s tram network, the line four quarters, with the subject site located OCEAN TERMINAL The property is situated within Granton, originally extended through Leith and within the district owned by the National & ROYAL YACHT 3.3 miles north of Edinburgh city centre, at along to Granton Waterfront. A transport Grid, known as the Forthquarter. the shore of the Firth of Forth. The subject interchange would have been located LEITH property is located on the former site within the public square that fronts onto A 2003 Masterplan for the Forthquarter by GRANTON OAD A9 RY R 0 FER Q of Scotland’s largest gasworks and now the subject property. Financial constraints Foster & Partners further expanded on this, U ROAD EE FERRY N K forms part of the award winning Edinburgh limited the line to York Place in the suggesting 2000 housing units, 8,900 sq m SF ROYAL BOTANICAL L M90 E A R D GARDEN R W Waterfront regeneration. city centre, however the city council is of retail space and 9,975 sq m of business Y R R H D D IT R E reportedly now considering options to space be provided, as well as open space, D L ERRY R FO QUEENSF TEL CONNECTIVITY extend the network in accordance with the leisure and educational facilities. CALTON HILL D The following transport links provide original plans. R Y R connections across and outwith Edinburgh Since this Masterplan was approved, the EDINBURGH U B EDINBURGH CASTLE Y Forthquarter has seen the construction AIRPORT A from the property: EDINBURGH WATERFRONT M M9 EDINBURGH ZOO HOLYROOD of the subject property, a public square, Edinburgh PARK The subject property lies within the TERRACE Tram Line ESTERN a Morrisons supermarket, a Pure Gym, A8 W ROAD Edinburgh Waterfront, a length of coastline GYLE SHOPPING ST JOH RD CENTRE NS Granton lies just north of Ferry Road, a running from Granton Harbour to the Leith an Edinburgh College campus and 768 MURRAYFIELD A8 GLASGOW RD main arterial route into Edinburgh city Docks, which has been earmarked for residential units. The site was an RICS RD GIE centre, and therefore allows easy access significant regeneration. International Regeneration Award winner OR A G 7 to both the A90 and the M8. The A90 is in 2004. The next steps for the quarter are 2 0 C expected to include the demolition of the I accessible within 15 minutes and the M8 Plans for regeneration originated in 2000, T D Y R O RD within 25 minutes. Edinburgh city centre when Llewelyn-Davies was commissioned remaining gas holder; the redevelopment F R N DE E L O M8 D CA T of the former Granton rail station; the IN S can be reached in 15 minutes. to provide a Masterplan for the mixed use D I B R U M R K G R O development of the Waterfront area. The delivery of a primary school; and a revised C H A B N 2 Y A 0 P L Masterplan was subsequently approved by requirement for lower density housing. A 7 BUS RD S 0 ER A LD S 7 CA A A71 Lothian Buses operate seven routes which Edinburgh’s planning committee, and has HERIOT-WATT Proposals for the wider Granton Waterfront UNIVERSITY service Granton. One route runs directly to/ been incorporated into Area Development from 1 Waterfront Avenue, while others Frameworks and proposed Local area include 1,980 residential units; a mixed RD use development with marina and hotel at RK have stops along West Granton Road and Development Plans. NA LA Granton Harbour, and further leisure space. A70 A at Granton Square. 720 CITY OF EDINBURGH BYPASS Description AWARD WINNING HEADQUARTERS SPECIFICATION Laid out over ground and three upper floors, the subject property was completed in 2003 as the flagship office HQ and operational call centre for Scottish Gas.
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