HIGH QUALITY LANDMARK 310OFFICE INVESTMENT 310 ST VINCENT STREET G2 5QR HIGH QUALITY LANDMARK OFFICE INVESTMENT

GRADE A REFURBISHED ASSET WITHIN GLASGOW’S CENTRAL BUSINESS DISTRICT

310 PAGE 2 310 ST VINCENT STREET GLASGOW G2 5QR

INVESTMENT • High quality landmark office investment within a key UK city

• Well positioned asset within Glasgow’s Central Business District

• Total of 69,988 sq ft arranged over basement, ground and nine SUMMARY upper levels including 55 car spaces

• Extensively refurbished in 2017 to provide stunning Grade A office space and on-site amenity including showers and bicycle racks

• Flexible open plan office floor plates ranging from 2,864 sq ft up to 9,417 sq ft

• Multi-let high quality tenant line-up with AWULT of 6.23 years to expiry and 2.6 years to breaks

• Total passing income of £1,723,181 per annum

• Strong Glasgow office market dynamic of very limited Grade A supply, recent rental growth and significant occupier inward investment

• Modest passing rents ranging from £20.00 psf to £25.00 psf, notably well below the city headline tone, expected to reach £34.50 psf this year

OFFERS IN EXCESS OF £20,180,000 REFLECTING AN ATTRACTIVE NIY OF 8.00% AFTER ALLOWING PURCHASER’S COSTS BASED ON LBTT A PURCHASE AT THIS LEVEL EQUATES TO AN ATTRACTIVE CAPITAL VALUE RATE OF £288 PSF

310 PAGE 3 Perth

A9 A91 LOCATION A84 Kirkcaldy

Dunfermline A92 GLASGOW IS THE CULTURAL, SPORTING Stirling AND ACADEMIC HEART OF SCOTLAND AND IS ONE OF EUROPE’S MOST VIBRANT AND COSMOPOLITAN CITIES. Dumbarton Falkirk M9 The city has a population of 600,000 people M80 making it Scotland’s largest city. The entire region surrounding the conurbation has approximately 2.3 million people within one hour’s drive, which M8 Livingston is more than 40% of Scotland’s entire population, making it the fifth largest urban area in the UK. Glasgow A7 The central belt of Scotland is home to 3.5 million people making it one of the top 20 largest urban M77 regions in Europe. Motherwell

A71 M74 A72 A77 Kilmarnock A702

Glasgow is Scotland’s largest centre of employment and an economic powerhouse, generating approximately £19bn in Gross Value Added (GVA) each year and £42.9bn in 2018 alone. The city has undergone a sustained period of regeneration, hosting the Commonwealth Games in 2014 and transforming itself into a service sector economy, with investment in the city centre, business district and infrastructure leading to over 100 companies relocating to Glasgow since 2004, including JP Morgan, BNP Paribas, Morgan Stanley, Barclays Wealth and Tesco Personal Finance plc.

The Global Financial Centres Index (Sep 2019) has ranked Glasgow in the Top 70 of the world’s best performing financial centres. Glasgow has the third most important financial centre in the UK. It is ranked first for Foreign Direct Investment (FDI) Strategy across Large European Cities of the Future 2020/21 category by FDI Intelligence in 2020.

310 PAGE 4 Rail connections are also easily accessible with Anderston, Charing Cross, Queen ST VINCENT STREET Street and Central Stations all within easy walking distance. Travel by air is offered IS REGARDED AS ONE via Glasgow International Airport which is SITUATION a convenient 15 minute drive time from the OF GLASGOW'S PRIME property. St Vincent Street is regarded as one of Glasgow’s prime office addresses and OFFICE ADDRESSES a number of high profile occupiers are located in the immediate vicinity including KPMG, Scottish Power, Whyte & Mackay, Santander, Zurich , Wood Group, 310 ST VINCENT STREET IS SITUATED AT THE Scottish Ministers, Morgan Stanley and WESTERN END OF GLASGOW’S CENTRAL BUSINESS Clydesdale Bank. DISTRICT (CBD) AND IS PROMINENTLY LOCATED ON THE CORNER OF ELMBANK STREET AND ST VINCENT STREET. IT IS LESS THAN 2 MINUTES’ WALK TO CHARING CROSS TRAIN STATION.

The building is ideally located to take advantage of Glasgow’s excellent transport connections. Junction 19 of the M8 Motorway sits immediately adjacent to the property, offering easy access to the M74, M77 and the wider arterial road network. St Vincent Street is also a main thoroughfare in and out of the city centre and as such, it is well served by numerous bus services that stop outside the building.

The western end of the CBD core has witnessed transformational inward investment and substantial occupier activity in recent years. On the office side, Scottish Power are next door to the property and occupy a 220,000 sq ft headquarters building. Sitting opposite is St Vincent Plaza, a 172,000 sq ft Grade A fully let building, home to some of the aforementioned blue chip occupiers.

Only a few minutes walk to the south, Morgan Stanley committed to a 150,000 sq ft Grade A office at Bothwell Exchange and Clydesdale Bank / Virgin Money have taken a 165,000 sq ft pre-let within the second building at the development currently under construction.

310 PAGE 5 AN EVOLVING MICRO LOCATION WITH SIGNIFICANT MIXED-USE Scottish Power Car Park DEVELOPMENT PLANNED HQ

Elmbank Street

Holland Street

St Vincent Street

Charing Cross West End A mix of other uses including hotel and residential Station Bath St have brought significant investment to the area, enhancing the existing landscape and improving amenities close to the property. Nearby hotels include the Hilton, Marriott, Malmaison, Blythswood Square Hotel, Novotel, Dakota Deluxe and Ibis.

M8 St Elmbank The western CBD core has recently been the focus PROPOSED 67 FLAT West George St for positive residential development activity. The RESIDENTIAL DEVELOPMENT PROPOSED former Strathclyde Police HQ at Pitt Street is being 4 STAR HOTEL redeveloped by Moda Living for their new Holland PROPOSED Blythswood St Park BTR scheme, comprising 433 high-tech homes Finnieston BTR St Vincent StSCHEME spread across 4 buildings ranging from 6-22 storeys in height.

Also, the recent purchase of the nearby Portcullis House by Watkin Jones will see a new BTR scheme of circa 825 units delivered by 2024. The building will Bothwell St be spread over a maximum of 30 storeys and will be Glasgow’s tallest building.

At 292 St Vincent Street, a further potential future 19 development will see a BTR scheme promoted, subject Waterloo St to receiving planning permission.

310 PAGE 6 Charing Cross Station Premier Inn Malmaison Hotel Kimpton Blythswood Square Hotel Hilton Marriott Q-Park Waterloo Street Central Station Anderston Station

13 12 14 15

17 6 11 16 3 20 18 19 Under offer for Moda Living Proposed BTR Scheme 24 Proposed BTR Scheme 21 26 310 23 5 10

22 8 25 9

Watkin Jones 2 Proposed BTR Scheme 1 7

4 M8 Motorway

1 KPMG / Whyte & Mackay 6 Scottish Enterprise 11 Chivas 16 Towry Financial / LV= 21 Morgan Stanley 25 BT 2 Barclays / Eaton / University of Glasgow 7 Scottish Power HQ 12 Standard Life 17 Skyscanner 22 Capita / Santander HQ / Phoenix Life 26 Teleperformance 3 Scottish Friendly 8 Teleperformance / AXA / SAS 13 Lloyds 18 Barclays / Burness Paull / Aggreko 23 Onyx 4 London & Scottish Investments 9 Ministry of Defence 14 Ryden / QBE 19 JP Morgan / Pinsent Masons / PWC / Shell 24 Aon / Morgan Stanley 5 WJM / Montagu Evans 10 Scottish Government 15 CBRE 20 Esure

310 PAGE 7 DESCRIPTION

310 ST VINCENT STREET COMPRISES AN 11 STOREY HIGH QUALITY REFURBISHED OFFICE BUILDING PROVIDING STUNNING GRADE A SPACE. THE BUILDING IS OF STEEL FRAME CONSTRUCTION WITH A MIXTURE OF CURTAIN WALL GLAZING AND POLISHED STONE ELEVATIONS TO ST VINCENT STREET AND ELMBANK STREET.

Internally, the open plan floor plates offer flexibility and are capable of being sub- divided. This is highlighted by the split of the 1st floor, creating two smaller suites which facilitated the recent British Steel letting.

FULLY REFURBISHED IN 2017 TO OFFER GRADE A OFFICE ACCOMMODATION

310 PAGE 8 Following the extensive refurbishment of the building in 2017, the building specification includes:

• Striking new double height glazed entrance • Revamped reception lobby, desk and waiting area • High efficiency new air-conditioning throughout the building • LED Lighting • Perforated metal tiled suspended ceiling • Full raised access floor • Floor to ceiling height of 2.8m • Male, female and accessible toilets on each floor • 3 contemporary glazed lifts and 1 goods lift • Extensive shower, changing and drying facilities • 55 car parking spaces (1:1,273 sq ft) • 69 bicycle racks (1:1,014 sq ft) • Feature terraces on the 5th, 6th and 7th floors offering panoramic city views • Creation of 2 new retail/leisure units which are now fully let

At the ground floor east wing / St Vincent Street elevation of the building, two units have been created for retail / leisure use and these are tenanted by Coffee Republic and a cycling studio. The units boast an outdoor terrace fronting onto St Vincent Street.

310 PAGE 9 ROOF TERRACES HAVE BEEN INCORPORATED ON THREE FLOORS OFFERING VIEWS OVER GLASGOW’S WEST END

310 PAGE 10 Floor Sq Ft Sq M

9th 3,808 354 ACCOMMODATION 8th 3,793 352 7th 4,521 420

6th 5,314 494 The building has been measured in accordance with the RICS Code of Measuring Practice and extends to 5th 6,981 649 an approximate net internal area of 69,988 sq ft. 4th 9,417 875

3rd 9,417 875

2nd 9,382 872

1st Suite B 5,065 470

1st Suite A 3,293 306

Ground West 2,864 266

Ground Retail A 1,803 167

Ground Retail B 2,052 191

Basement storage 334 31

Basement storage 1,944 181

Total 69,988 6,504

The property occupies a site of approximately 0.82 acres. It is bound to the east by Holland Street and to the south by St Vincent Street, with Elmbank Street to the west. Access to the rear car park is via Elmbank Street where there are a total of 55 car spaces.

310 PAGE 11 310 PAGE 12 310 PAGE 13 FLOOR 2nd floor (typical floor plate) 5th floor showing feature terrace

Lobby

Lobby

Stair 01 PLANS Stair 01

Plant A full set of floor plans are Plant

available upon request. Male WC Stair 03 Male WC Stair 03

Plant

Lobby Stair 02 Stair 02 Lobby

Dis. WC

Lobby Dis. WC Lobby

Female WC Female WC Screen

1st floor showing sub-division into two suites Ground floor showing split of office and retail/leisure units

Lobby

Stair 01

Plant

Male WC

Stair 02

Lobby Female WC ELMBANK STREE T

Void HOLLAND STREE T

Void

ST VINCENT STREET

310 PAGE 14 The total passing rent of the building at a date of sale All leases are drawn on an FRI basis albeit a number The current income profile of the building provides an will be £1,723,181 per annum. As highlighted within of tenants have excluded repair, maintenance and AWULT of 6.23 years to expiry and 2.60 years to break. the tenancy schedule, this will include a two year replacement of cladding from tenant service charge, rent, service charge, rates and insurance guarantee with others excluding replacement only. Details of Our client will top up any running rent free periods at TENANCY on both the vacant 1st floor Suite A and the vacant specific exclusions are held within the data room. a Date of Sale. basement storage space.

Name Description Area (sq ft) Car Spaces Start Date Expiry Date Next RR Breaks Rent (pa) Rate psf Comments

24 months rent free from Date of Entry. 6 month rent break penalty. 6 months notice on break. Clancy Consulting Ltd 9th 3,808 2 27/01/2020 26/01/2030 27/01/2025 27/01/2025 £89,723 £23.56 2 cars at no cost. S/C cap £6 psf.

N4 Partners LLP 8th 3,793 4 28/02/2020 27/02/2025 n/a n/a £102,825 £25.00 S/C cap £7 psf. 4 cars at £2k pa. 9 months rent free from 28/02/2023.

9 months rent free followed by 18 months at half rent. Tenant due 12 months rent free if break OnScale Ltd 7th 4,521 2 15/04/2019 14/04/2029 15/04/2024 14/04/2024 £106,722 £22.50 not exercised. 12 months notice on break. S/C cap £5.80 psf + RPI and excluding utilities. 2 cars at £2.5k pa.

Tenant due 3 months rent free if break not exercised. 12 months notice on break. S/C cap Cisco International Ltd 6th 5,314 7 02/09/2019 01/09/2029 02/09/2024 01/09/2024 £142,379 £23.50 £6.10 psf + RPI and excluding utilities. 7 cars at £2.5k pa.

6 months notice on break. Tenant due 6 months rent free if break not exercised. No S/C cap. 5 Cowi UK Ltd 5th 6,981 5 05/02/2018 04/02/2028 05/02/2023 04/02/2023 £185,775 £25.00 cars at £2,250 pa. Repairing liability excludes cladding repair.

4.5 months notice on break. Tenant due 9 months rent free if break not exercised. S/C cap £6 Wescot Credit Services Ltd 4th 9,417 1 07/09/2020 06/09/2025 n/a 06/09/2022 £232,717 £24.50 psf linked to annual RPI increases. 1 car at £2k pa.

4.5 months notice on break. Tenant due 9 months rent free if break not exercised. S/C cap £6 Wescot Credit Services Ltd 3rd 9,417 1 07/09/2020 06/09/2025 n/a 06/09/2022 £232,717 £24.50 psf linked to annual RPI increases. 1 car at £2k pa.

4 months notice on break. Tenant due 9 months rent free if break not exercised. S/C cap £6 Wescot Credit Services Ltd 2nd 9,382 0 01/11/2020 31/10/2025 n/a 01/11/2022 £229,859 £24.50 psf linked to annual RPI increases.

36 months at half rent from Date of Entry. Tenant due 9 months rent free if break not British Steel Pension Fund 1st Suite B 5,065 3 01/03/2021 28/02/2031 01/03/2026 01/03/2026 £129,780 £24.14 exercised. S/C cap £6 psf. 3 cars at £2.5k pa.

Vacant - Rent guarantee 1st Suite A 3,293 £80,679 £24.50 2 year rent, service charge, rates and insurance guarantee.

6 months notice on break. Tenant due 9 months rent free if break not exercised. S/C cap of Lawrie IP Ltd Ground West 2,864 2 28/01/2019 27/01/2029 28/01/2024 28/01/2024 £62,280 £20.00 £6 psf linked to annual RPI increases. 2 cars at £2.5k pa. Repairing liability excludes cladding repair.

NSCR Ltd t/a 12 months notice on break. Stepped rent: Yr 1 £27,500 pa, Yr 2 £27,500 pa, Yr 3 £30,000 pa, Yr 4 Ground Retail A 1,803 0 21/10/2019 20/10/2034 21/10/2024 21/10/2027 £35,000 £19.41 Coffee Republic £32,500 pa, Yr 5 onwards £35,000 pa. Landlord will top-up to £35,000 pa from a date of sale.

3 months rent free, followed by 10 months at half rent. Stepped rent: Yr 1 £26,000 pa, Yr 2 Rev S Glasgow (St Vincent) Ground Retail B 2,052 1 15/03/2021 14/03/2031 15/03/2026 n/a £35,000 £17.06 £26,000 pa, Yr 3 £31,000 pa, Yr 4 £31,000 pa, Yr 5 £35,000 pa onwards. Landlord will top-up Ltd t/a Revolution Spin to £35,000 pa from a date of sale. 1 car included.

Cisco International Ltd Basement storage 334 - 02/09/2019 01/09/2029 02/09/2024 01/09/2024 £2,505 £7.50 12 months notice on break. Additional 3 months rent free if break not exercised.

Vacant - 2 year guarantee Basement storage 1,944 - - - - - £9,720 £5.00 2 year rent, service charge, rates and insurance guarantee

British Steel Pension Fund Additional parking - 1 01/03/2021 28/02/2022 - - £2,500 - Mutual rolling break notice.

Cisco International Ltd Additional parking - 10 01/01/2020 01/09/2029 - - £25,000 - Mutual rolling break notice.

Cisco International Ltd Additional parking - 3 02/09/2019 01/09/2029 - - £7,500 - Mutual rolling break notice.

Clancy Consulting Ltd Additional parking - 4 27/01/2020 26/01/2030 - - £4,000 - Mutual rolling break notice.

N4 Partners LLP Additional parking - 2 28/02/2020 27/02/2025 - - £4,000 - Mutual rolling break notice.

Lawrie IP Ltd Additional parking - 1 12/03/2021 - - - £2,500 - Mutual rolling break at 30 days notice.

Vacant car spaces - - 6 ------

PROPERTY TOTAL 69,988 55 £1,723,181

310 PAGE 15 TENURE Heritable Interest (Scottish equivalent of English Freehold). Summary information on the top 3 paying tenants, each representing at least 10% of the passing income is as follows:

Wescot Credit Services Ltd Wescot is a debt recovery agency authorised and regulated by the Financial Conduct Authority. Wescot work for a number of organisations in the UK including all of the large banks as well as credit card providers, energy, telecoms and other TENANT COVENANT organisations. For the year ending Dec 2019, the company posted a Turnover of £51.16m, Pre-Tax Profit of £9.58m and Shareholder’s Funds of £90.06m.

Tenant Income Creditsafe rating (out of 100) Cowi UK Ltd Wescot Credit Services Ltd 40.46% 96 Cowi UK Ltd are part of Cowi, an international consulting group, specialising in engineering, environmental science and economics, with headquarters in Lyngby, Cowi UK Ltd 10.81% 80 Denmark. The company has been involved with more than 50,000 projects in 175 countries and has approximately 7,300 employees. For the year ending Dec Cisco International Ltd 10.32% 97 2019, Cowi UK Ltd posted a Turnover of £37.93m, Pre-Tax Profit of £4.35m and Shareholder’s Funds of £7.28m. British Steel Pension Fund 7.55% not rated

N4 Partners LLP 6.23% 47 Cisco International Ltd Part of Cisco Systems Inc, Cisco International Ltd provides information technology OnScale Ltd 6.21% 64 services to a global customer base. The company offers networking, internet of things, cloud, e-mail, router and endpoint security services, as well as private cloud Clancy Consulting Ltd 5.45% 68 solutions. For the year ending July 2019, the company posed a Turnover of £11.04bn, Pre-Tax Profit of £177.90m and Shareholder’s Funds of £372.52m. Lawrie IP Ltd 3.62% 72 Creditsafe reports for all of the tenants can be made available to interested parties. NSCR Ltd 2% 54

Rev S Glasgow (St Vincent) Ltd 2% 47

Over 65% of the total income is categorised as Very Low Risk, falling within a credit score of 71-100. More SERVICE EPC than 50% of the total income sits above a 90 score credit rating. The property has an EPC rating of B. A copy of the CHARGE EPC can be supplied to interested parties. All leases are drawn on an FRI basis and building running costs are fully rechargeable to the various occupiers. The service charge budget for the current year ending 31st December 2021 is running at a total of £321,677 pa which reflects an overall rate of £4.59 psf. Although there are service charge caps within several leases, there are no landlord shortfalls within the current service charge budget. 310 PAGE 16 GLASGOW Whilst 2020 saw reduced take-up levels of 251,315 sq ft as a direct result of the pandemic, 2021 is expected to see somewhat of a rebound with 450,000 sq ft of requirements on the market as occupiers plan their return OCCUPATIONAL to the workplace. Glasgow is well placed to rebound strongly as the UK emerges from lockdown with overall vacancy remaining low at c.5.5% and a critical shortage of new build Grade A accommodation (0.5%). With 75% of the current new build MARKET Grade A under construction already pre-let, it is expected that this constrained supply will continue with further rental growth in the coming years.

In the years preceding Covid-19, Glasgow The strength of the Glasgow market can be seen by the witnessed strong levels of occupier demand significant commitments to the city from major occupiers with back-to-back years of above average with Virgin Money acquiring 165,000 sq ft at 177 Bothwell take-up and sustained rental growth. Prime Street (c. £32.50 psf) and Atkins acquiring c. 30,000 sq ft rents in the city will reach £34.50 psf in 2021 at Atlantic Square at believed to be £34.50 psf. for new build Grade A accommodation and have achieved £31 psf for refurbished Grade A A number of recent key transactions that highlight the accommodation where they currently remain. robustness of the Glasgow market are as follows:

TAKE UP OVER LAST 5 YEARS Grade A New Build / Property Tenant Size (sq ft) Rate £/psf Date Grade A Refurb 1,600,000

Atlantic Square Atkins New Build 28,912 £34.50 Under Offer 1,400,000

1,200,000

206 St Vincent Street MDDUS Refurb 11,329 £27.00 Jan 2021 1,000,000

800,000 G1 Building, BLM Solicitors Refurb 7,831 £28.00 Nov 2020 5 George Square 600,000

Sentinel, 400,000 Chubb Refurb 18,260 £28.50 Oct 2020 103 Waterloo Street 200,000 Sentinel, Sedgwick Refurb 18,268 £29.00 Jan 2020 0 103 Waterloo Street 2015 2016 2017 2018 2019 2020

180 West George Street Class for Kids Refurb 7,800 £25.50 Jan 2020

310 PAGE 17 GLASGOW Property Price Yield £/psf Wault Comment

Cuprum, £28.25m 7.15% £293 4.36 March 2021 INVESTMENT MARKET 480 Argyle Street

Guildhall, £30.00m 9.50% £203 4.5 September 2020 Like every other country in the world, investor activity in 2020 was subdued as a result of the Queen Street global COVID 19 pandemic. Uncertainty surrounding occupiers being able to occupy their office premises coupled with global travel restrictions resulted in a reduced annual transactional level of 150 Broomielaw £40.00m 7.66% £413 4.0 September 2020 £82.575m. This was about 40% of the 2019 level and below the 10 year average of £221m.

Despite the lockdowns over the last 12 months, there were still notable transactions to complete Spectrum, £14.695m 6.33% £200 4.1 October 2019 within the city, namely 150 Broomielaw (£40m) and Guildhall (£30m) showing investor appetite 55 Blythswood Street remained for the right product. 2021 is expected to see a rebound in investor activity with renewed confidence that a path out of lockdown, and in turn a return to the workplace, is in sight given the 123 St Vincent Street £37.75m 7.57% £280 3.51 September 2019 successful start to the UK Covid vaccination roll out.

Prime yields contracted to 5.25% in 2018, the sharpest yield since pre-recession and remain at that level. This reflects a significant discount on prime yields seen elsewhere in major European cities 180 St Vincent Street £14.75m 7.15% £288 4.0 August 2019 that often command between 3% and 4% as well as Edinburgh at 4.75%.

INVESTMENT VOLUMES FOR THE PAST 5 YEARS / 10 YEAR AVERAGE PRIME YIELDS, GLASGOW VS OTHER MAJOR EUROPEAN CITIES

500 6.0 450 5.5

400 5.0

350 4.5

300 4.0

250 Yield % 3.5

200 3.0

150 2.5

100 2.0

50 Paris Bristol Dublin Zurich Milan Berlin Cardi Prague Madrid Vienna GenevaMunich Warsaw Brussels Frankfurt 0 Edinburgh Barcelona Glasgow BirminghamManchester Amsterdam 2016 2017 2018 2019 2020

£M Average London - West End

310 PAGE 18 INVESTMENT RATIONALE

• Opportunity to acquire a substantial landmark office building in one of the UK’s key cities at a very attractive yield • Glasgow offers a yield significant discount versus the Big 6 UK cities • Strong market dynamic of limited Grade A supply, recent rental growth and significant inward investment with major blue chip occupiers committing to Glasgow • Micro location continuing to strengthen with further significant residential and hotel development taking place over the next few years • Building has undergone a substantial high quality refurbishment and therefore minimal landlord cap-ex required • Modest passing rents within the building which are substantially below Glasgow’s headline tone of £34.50psf, offering positive future rental growth prospects • Asset management opportunities including letting of the remaining vacant space to achieve a fully let building status, letting of the 6 vacant car spaces to improve net income, exploring lease re-gears and break removal opportunities and work through future rent reviews to increase net income

CAPITAL VAT The property is elected for VAT. VAT will be payable on the purchase price, however it is anticipated that a sale will be enacted by way of a Transfer of a ALLOWANCES Going Concern (TOGC). Capital Allowances are available for the property and it is anticipated that these will be transferred to a purchaser. DATA ROOM Further information can be found within the sale Data Room with access being available upon request.

310 PAGE 19 310 ANTI-MONEY INVESTMENT FURTHER INFORMATION / LAUNDERING PROPOSAL VIEWING We are instructed to seek offers in excess of £20,180,000 For further information or viewing, please contact the joint selling agents: exclusive of VAT for the Heritable Interest which reflects a Net Initial Yield of 8.00% after purchaser's costs REGULATIONS based on LBTT. A purchase at this level equates to an attractive capital value rate of £288 psf. To comply with Anti Money Laundering Regulations we are legally required to undertake due diligence on prospective purchasers / tenants which will at a minimum include proof of identity / address and funding. Applicable documentation will therefore be required on agreement of Heads of Terms. John Rae Ian Dougherty SPV 07884 114 048 07831 175 710 [email protected] [email protected] The property is held in a SPV and a corporate sale could be facilitated. Further information can be Douglas Binnie Derek Archer provided on request. 07775 561 334 07775 870 031 [email protected] [email protected]

Simon Rickards 07787 844 384 [email protected]

Ryden is a limited liability partnership registered in Scotland. Messrs Ryden LLP for themselves and for vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Messrs Ryden LLP has any authority to make or give any representation or warranty whatever in relation to this property. April 2021.