FOR SALE ALMOND COURT FALKIRK, FK2 9HT MULTI-LET TRADE COUNTER INVESTMENT OPPORTUNITY

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1 FOR SALE MULTI-LET TRADE COUNTER INVESTMENT OPPORTUNITY OFFERS OVER 1.85M REFLECTING A NET INTIAL YIELD OF 8.4%, A REVERISIONARY YIELD OF 9.32% AND A CAPITAL RATE OF PSF ALMOND COURT FALKIRK, FK2 9HT

2 EXECUTIVE SUMMARY 5 units, totalling 31,635 sqft / 2,939 sq m Let to RJM Sports Ltd, Mulberry Web Ltd, Riley Dunn & Wilson Ltd, Saint-Gobain Ltd and Catherine H1590 Ltd Low passing rents of between offer strong rental growth prospects WAULT to expiry of 5.30 years and to break of 4.22 years (assuming RJM Sports Ltd lease extension concludes) Offers over 1.85m reflecting net initial and reversionary yields of 8.4% and 9.32% respectively Low capital rate of psf LOCATION SUMMARY 5 minute drive to Falkirk town centre 1.3 miles to motorway which links to M876, M8, and 0 Motorways Falkirk Grahamston Station and Falkirk High Station 1 and 2.5 miles respectively 25 minute drive to Edinburgh Airport Grangemouth Port is 3 miles from Almond Court Stirling is 13.5 miles and Livingston is 18 miles from Almond Court LOCATION Falkirk is located in the central belt of Scotland, 26 miles north-west of Edinburgh and 25 miles north-east of Glasgow. The town is well positioned and benefits from excellent transport links to Edinburgh and Glasgow as well as the rest of Scotland. Almond Court is prominently situated on the northern side of Etna Road within Middlefield Industrial Estate. Occupiers here include Screwfix, Ross Electrical, Tile Giant, Wolseley, Grahams, B & Q, Plum Centre, Tool Station, Howdens, Dingbro and Speedy Hire. Etna Road is the industrial estate s main access road, linking the town centre with Middlefield and Grangemouth. This creates a busy road and provides excellent trade opportunities for occupiers. From Stirling & North Denny Forth & Clyde Canal From Glasgow 18 Miles M876 M876 Stenhousemuir Larbert Bonnybridge Clackmannanshire Bridge Falkirk Union Canal A876 From Perth A977 Kincardine Bridge Grangemouth Polmont From Dunfermline A985 F I RT H OF FORTH Bo ness M8 From Edinburgh 19 Miles GLASGOW M73 M74 FALKIRK Dunfermline M8 EDINBURGH

3 Forth Ports (Grangemouth) Grangemouth The Kelpies Helix Park A9 Etna Rd Almond Court Middlefield Industrial Estate Bankside Industrial Estate Falkirk Town Centre

4 DESCRIPTION The site extends to 2.10 acres (0.85 hectares) and comprises five adjoining single bay industrial units of steel frame construction with profile metal cladding under pitched roofs. The total area is 31,635 sq ft (GIA) across five units ranging from 5,018 sq ft to 9,994 sq ft. Each unit has an up and over roller shutter door and benefits from an eves height of 5.6 meters. COVENANT RJM SPORTS LTD Company Number: SC Year-end accounts dated 31 December 2015 Net Assets: 77,125 RJM Sports Ltd was founded in 2003 and is a family business. The company has become one of the main independent sports retailers in the UK, having been awarded a number of contracts with clubs and sporting organizations across the country. In 2015 RJM Sports acquired Denny Engraving in response to increased demand in trophy and engraving requirements. More details at MULBERRY WEB LTD Company Number: Year-end accounts dated 30 November 2015 Net Assets: 772,712 Mulberry Web Ltd operates in the United Kingdom, Republic of Ireland and Sweden. The company is a wholesale distributer of sign vinyl and supplies for sign makers and garment printers. More details at RILEY DUNN & WILSON LTD Company Number: Year-end accounts dated 30 April 2016 Net Assets: 10,281 Is one of the UK s leading book and paper conservation and heritage presentation companies. The company has a strong reputation of providing high quality services to librarians, curators, archivists and private collectors, including the British Library and other academic organisations. More details at CATHERINEH1590 LTD Company Number: SC Year-end accounts dated 30 April 2016 Net Assets: 50,190 Caths Direct is a small family run business which has been in operation since 2006 and specialises in the sale of online gifts. More details at SAINT-GOBAIN BUILDING DISTRIBUTION LTD Company Number: Year-end accounts dated 31 December 2015 Turnover: 693,020,000 Profit before tax: 30,090,000 Net Assets: 303,305,000 Saint-Gobain is an international firm that operates in 66 countries and employs 180,000 people, including over 17,000 in the UK and Ireland. It was founded in 1665 with the aim to produce glass on an industrial scale. Today Saint-Gobain is a wholesaler for wood, construction materials and sanitary equipment. More details at

5 TENANCY SCHEDULE Size (sq ft) Tenant Lease Start Lease Expiry Review Date Total Rent pa Rent (psf) Total ERV ERV (psf) In Occupation Since 5,038 RJM Sports Ltd 06/04/2016* On 1 month's notice N/A 28, , ,040 Mulberry Web Ltd 11/12/ /12/2020 N/A 28, , ,994 Riley, Dunn & Wilson Ltd 14/06/ /06/2022 N/A 45, , ,545 Saint Gobain Building Distribution Ltd t/a Grahams 03/05/ /05/ /05/ , , ,018 CatherineH1590 Ltd 20/03/ /03/2020 N/A 28, , , , ,315 *Occupying on monthly licence at 28,000 pa. Heads of terms agreed for 5 year FRI lease at 28,000 pa subject to schedule of condition for exterior of premises. Drafts under negotiation. OCCUPATIONAL MARKET The occupational market for industrial and trade counter properties has performed extremely well of late. Levels of take up are high and good quality stock is declining steadily. The market in the Falkirk is very active, especially in the 5,000 sq ft and below market. This demand is focused on the established estates like Middlefield Industrial Estate. As a result prime trade counter rents are 6.50 psf. Date Property Address Tenant Size (sq ft) Review Date Rent (psf) Incentive Dec Abbots Ct Dingbro Ltd 8, years months rent free Oct 2016 Unit 8, Etna Rd Martin Plant Hire 5, years with months rent free a break at 10 Sep 2016 Unit 7, Etna Rd D&G Autocare 5, years months rent free Sep 2016 Units A-E, Etna Rd Rinus Roofing Supplies 5, years with a break at months rent free INVESTMENT MARKET The multi-let industrial and trade counter market continues to perform well in Scotland, following a trend right across the UK. Investors favour the sector as there is strong occupational demand, limited development and strong rental growth prospects and is evidenced by a number of key transactions including: Date Property Tenancy Price Size (sq ft) Price (psf) Net Initial Yield Jul Clepington Road, Dundee Multi-let with a WAULT 2.64m 42, % of 5.04 years to expiry Aug 2017 Oakbank Trading Estate, Multi-let with a WAULT 7.74m 87, % Glasgow of 4.5 years to expiry Aug 2017 Excelsior Park, Wishaw Multi-let with 2 vacant 6.4m 109, % units Jun 2017 Kingston Trade Park, Glasgow Multi-let 4.7m 39, % Feb 2017 M8 Interlink, Coatbridge Multi-let with a WAULT 15.9m 290, % of 8 years to expiry Dec 2016 Abbeyhill Industrial Estate, Edinburgh Multi-let 3.1m 22, %

6 SERVICE CHARGE Further information available on request. TENURE The property is held by way of a long ground lease from Falkirk Council from 8th August 1994 until 7th August 2119 at a rent of 1 per annum if asked. Our understanding is that subject to agreeing terms, a minute of variation can be agreed at the time of the lease`s assignation to extend the ground lease. Further detail available on request. EPC Available on request. VAT The properties have been elected for VAT and therefore VAT will be payable on the purchase price, however, it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC). INVESTMENT PROPOSAL We are seeking offers in excess of 1.85m excluding VAT, which reflects a net initial yield of 8.4%, a reversionary yield of 9.32% and a capital value of psf. FURTHER INFORMATION For further information or to arrange an inspection please contact: Stephen Kay M: D: E: stephen@cuthbertwhite.com Gavin G Scott M: D: E: gavin@cuthbertwhite.com CuthbertWhite Ltd 38 Thistle Street, EH2 1EN T: IMPORTANT NOTICE: CuthbertWhite Ltd for the landlord of this property, whose agents they are, give notice that: 1. The particulars are intended to give a fair and substantially correct overall description for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers ought to seek their own professional advice. 2. All descriptions, dimensions, areas, reference to condition and necessary permissions for use and occupation and other details are given in good faith, and are believed to be correct, but any intending landlord 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. 3. No person in the employment of CuthbertWhite Ltd has any authority to make or give any representations or warranty whatever in relation to this property nor enter into any contract on behalf of the landlord. 4. No responsibility can be accepted for any expenses incurred by intending purchasers in inspecting properties which have been sold, let or withdrawn. Photographs taken August Particulars prepared August 2017.