Aquarius Court

HIGH QUALITY OFFICE INVESTMENT OPPORTUNITY EUROPARC EXECUTIVE SUMMARY

Located in a successful business park experiencing a resurgence in occupier demand over the past 18 months.

Excellent communication links and well placed to benefit from the development masterplans in the area, spearheaded by Scarborough Muir Group.

Grade A specification with excellent parking provision.

Fully let building with a mix of good quality covenants.

Heritable Interest.

Total rent of £153,210 p.a with a reversion of £206,592 p.a.

Offers sought in excess of£1,300,000 reflecting a Net Initial Yield of 11.17% and a reversionary yield of 15.03% net of costs at 5.55%. This reflects a low capital value per square foot on the net internal area of £75.48 psf.

Aquarius Court EUROPARC ROSYTH INVERKEITHING M90

TRAVEL TIMES DIRECT DESTINATION ROAD RAIL DISTANCE ACCESS Edinburgh 20 mins 20 mins 13 miles ROAD 5 mins - 1 mile Aquarius 5 Glasgow 45 mins 1 hr 15 mins 49 miles Court 5 mins 8 mins 5 miles 1 Dundee 1 hr 52 mins 50 miles Aberdeen 2 hrs 2 hrs 10 mins 110 miles 2 PORT OF ROSYTH FROM EUROPARC ROSYTH 1 Lloyds Banking Group 3 2 Sainsbury’s Bank 3 SRJ Windows 4 4 Building Blocks Child Nursery 5 Oceaneering 6 QinetiQ Purpose Built ROSYTH NAVAL 6 Shock Testing Facility DOCKYARD

Perth LOCATION Located on the northern shore of the Firth of Forth, Europarc occupies a gateway Stirling Glenrothes position within Rosyth and a prime position close to the new Queensferry M90 Crossing. Edinburgh Airport and Edinburgh City Centre are respectively 15 and 20 Dunfermline minutes by road from Europarc. Kirkcaldy Inverkeithing Railway Station and Rosyth Railway Station are a 5 minute drive EUROPARC from Europarc and provide a direct link to Edinburgh, Glasgow, Aberdeen and FIRTH OF FORTH Dundee via the national rail network. A new rail link between Inverkeithing and ROSYTH Europarc is also proposed. M80 Falkirk M9 The roll-on roll-off ferry terminal is located at the waterfront immediately to the Edinburgh south of Europarc. This terminal acts as a hub for European freight and provides Glasgow links to Northern Europe and beyond. M8 Livingston ROSYTH MASTERPLAN After a decade of collaborative master-planning development as well as the expansion of the commercial with Fife Council and significant private investment, offerings at Europarc that will complement the existing Scarborough Muir Group (SMG) are spearheading the buildings. There are also plans to expand the multi-modular £500m regeneration of a 120-acre site in Rosyth. In an act freight handling facility to satisfy the increasing demand for of faith and commitment to the area, SMG have invested freight related services feeding North Sea shipping routes. several million pounds removing the former Ministry of Defence oil fuel tank farm and bunker. Following the The past 18 months has seen a significant increase in imminent completion of these works, SMG are committed occupier demand in the area and as a result has put upward to proceeding with the construction of a large-scale mixed pressure on the office rental market which is evidenced in use development. the latest letting at Aquarius Court. Aquarius The development includes the implementation of The planning process can be monitored on the Fife Council Court infrastructural works to service a mixed-use Waterfront website: http://planning.fife.gov.uk/online EUROPARC ROSYTH DESCRIPTION The property is arranged over ground and first floors and benefits from the following specification: • Open plan, column free, fully fitted floor plates • Full raised access flooring system with 130mm clear void and floor boxes including busbar • Suspended ceiling incorporating flush fluorescent LG7 lighting • 2.7m floor to ceiling height • Gas fired central heating • Female and male/disabled toilets on each floor and shower facilities • Bike store • Security entry system • Tenant-fitted air conditioning units • On site car parking at 1 space per 23.8 sq m (256 sq ft) net

TENANT INFORMATION

QinetiQ – A listed global business, QinetiQ specialise in the defense, security and aerospace sectors. The Rosyth office enables them to fulfil ongoing contractual commitments with the MoD. QinetiQ have been located in Rosyth since the 1940’s. QinetiQ have a Creditsafe score of 72.

Parsons Peebles Group Ltd – Specialists in the design and manufacture of electric motors and generators. The Parsons Peebles Group have just completed some significant tenant fit- out work within their unit. Parsons Peebles Group Ltd have a Creditsafe score of 62. SITE PLAN

Epoint Embedded Computing Ltd – Provide interface and control solutions for the gaming and medical industries. Epoint Embedded Computing Ltd have a Creditsafe score of 68.

Core Assets Ltd – Core Assets are a nationwide Fostering and Childrens’ Services Group. Their Rosyth Branch covers the East of Scotland. Core Assets Scotland Ltd have a Creditsafe score of 67. Aquarius Court TENANCY SCHEDULE Aquarius Court

Unit / Tenant Floor Lease Lease Review Break Current Current ERV General Comments Suite Area Start Expiry Date Rent (PA) Rent (PSF) (£12.00 PSF)

Unit 1A Parsons Peebles Group 2,120 09/11/2015 08/11/2020 N/A 08/11/18 £25,440.00 £12.00 £25,440.00 New lease commenced November 2015. (GF1) Limited

Unit 1B Epoint Embedded 2,184 29/10/2015 28/10/2020 N/A 28/10/2018 £26,208.00 £12.00 £26,208.00 New lease commenced October 2015. (1F1) Computing Limited

Unit 2A Core Assets Scotland 2,120 25/03/2014 24/03/2024 25/03/2019 25/03/2019 £16,960.00 £8.00 £25,440.00 Open market upwards only rent review. Service (GF2) Limited charge cap of £4,240 per annum increased by RPI annually.

Unit 2B QinetiQ Limited 2,184 26/10/2011 25/10/2026 26/10/2016 Annual £17,035.20 £7.80 £26,208.00 Break any time after 26/10/13, 12 months’ prior (1F2) 26/10/2021 (Tenant only) written notice. Subject to a five yearly 3% fixed uplift. Estate service charge cap of £1,310.40. Increases by RPI annually. Only applies to Estate Costs, not common parts of building.

Unit 3A Core Assets Scotland 2,120 25/03/2014 24/03/2024 25/03/2019 25/03/2019 £16,960.00 £8.00 £25,440.00 Open market upwards only rent review. (GF3) Limited Service charge cap of £4,240 per annum increased by RPI annually.

Unit 3B QinetiQ Limited 2,184 26/10/2011 25/10/2026 26/10/2016 Annual £17,035.20 £7.80 £26,208.00 Break any time after 26/10/13, 12 months’ prior (1F3) 26/10/2021 (Tenant only) written notice. Subject to a five yearly 3% fixed uplift. Estate service charge cap of £1,310.40. Increases by RPI annually. Only applies to Estate Costs, not common parts of building.

Unit 4A QinetiQ Limited 2,120 26/10/2011 25/10/2026 26/10/2016 Annual £16,536.00 £7.80 £25,440.00 Break any time after 26/10/13, 12 months’ prior (GF4) 26/10/2021 (Tenant only) written notice. Subject to a five yearly 3% fixed uplift. Estate service charge cap of £1,272.00. Increases by RPI annually. Only applies to Estate Costs, not common parts of building.

Unit 4B QinetiQ Limited 2,184 26/10/2011 25/10/2026 26/10/2016 Annual £17,035.20 £7.80 £26,208.00 Break any time after 26/10/13, 12 months’ prior (1F4) 26/10/2021 (Tenant only) written notice. Subject to a five yearly 3% fixed uplift. Estate service charge cap of £1,310.40. Increases by RPI annually. Only applies to Estate Costs, not common parts of building.

TOTALS 17,216 £153,210 £206,592.00 Ground Floor First Floor SERVICE CHARGE The property has a low service charge provision averaging less than £1.50 psf. A detailed breakdown is available on request. TENURE Heritable Interest (Scottish equivalent of English freehold). EPC RATING The property has an EPC Rating of D. VAT The property has been elected for VAT and therefore VAT will be payable on the purchase price. We would anticipate, however, that the property will be sold as a TOGC and therefore no VAT will be payable. Aquarius PRICE Court Offers are invited in excess of£1,300,000 . This reflects a net initial yield of 11.17% and a reversionary yield of 15.03% subject to purchaser’s costs at 5.5%. This reflects a capital value per square foot on the net BUILDING BLOCKS internal area of £75.48 psf. CHILD NURSERY CAPITAL ALLOWANCES Available, further details on request. FURTHER INFORMATION For further information please contact the sole selling agents Redpath Bruce LLP. EUROPARC 2 Aquarius ROSYTH A921 Court A985 1 Rosyth Dalgety Bay EUROPARC ROSYTH M90 Inverkeithing Christian Bruce Andrew Hadden SAT NAV: KY11 2UU [email protected] [email protected] Forth 0131 297 7561 0131 297 7562 Ports HM 07866 497 282 07827 243 993 Naval Base North Queensferry Queensferry Crossing (Under Particulars: These particulars are not an offer of contract, nor part of one. You should not rely on statements by Redpath Bruce Consruction) LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its Forth Forth condition or its value. Redpath Bruce LLP have no authority to make representations about the property, and accordingly any FIRTH OF FORTH Road Rail information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). Photos etc: The photographs Bridge Bridge show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. VAT: The VAT position relating to the property may change without notice. May 2016.