Northgate Information Solutions, 20 Sandyford Place Glasgow G3 7NG
NB: The property forms part of a larger building
Location Estimated Resident Population: 590,000 Miles: 1 mile west of Glasgow City Centre 46 miles west of Edinburgh
Roads: A82, A814, M8
Position The property is located in the Park area of Glasgow, immediately to the west of Glasgow City Centre. The property is located on the south side of Sandyford Place within a terrace of traditional townhouses. Sandyford Place fronts onto Sauchiehall Street, which is one of the main arterial routes into Glasgow city centre. Kelvingrove Park, Charing Cross Station and the M8 motorway are all located nearby.
Description OFFICES arranged on the ground, lower ground and first floors, forming part of a larger building. The property benefits from cellular office accommodation throughout, WCs on each floor and gas-fired central heating as well as a secure four-bay garage at the rear.
Present Accommodation (approximate areas) Floor
Accommodation
Ground Lower Ground First
Offices Offices Offices
Total Commercial Area
Tenure Heritable (Scottish Equivalent of Freehold).
Tenant NORTHGATE MANAGED SERVICES LIMITED (1) with a guarantee from NORTHGATE INFORMATION SOLUTIONS UK LIMITED (2)
Lease Term: 15 years from completion Basis: FRI Rent: £40,000 per annum Minimum fixed uplifts (3) Year 5 – £45,256 per annum or OMRV Year 10 – £51,203 per annum or OMRV
Expiry: December 2026
VAT is applicable to this lot – please see Conditions of Sale and Articles of Roup.
Attractive Heritable Office Investment
Net Internal Areas
85.93 sq m 197.88 sq m 91.04 sq m
374.85 sq m (925 sq ft)
(2,130 sq ft) (980 sq ft)
(4,035 sq ft)
(1) Northgate Information Solutions is a market leader in providing specialist software, outsourcing and information technology services to the human resources, local government, education and public safety markets. Northgate currently employs over 10,000 employees in 35 countries, across 5 continents. For the year to 04/10, Northgate Managed Services Limited reported a turnover of £114 million, pre-tax profits of £671,000 and a net worth of £64 million. (Sources: One Source One-Stop Report and Company website www.northgate-is.com)
(2) Northgate Information Solutions UK Limited, for the year to 04/10, reported a total turnover of £159.1 million, pre-tax profits of £14.4 million and total assets of £679.8 million. (Source: One Source One-Stop Report)
(3) The rent is subject to 5 yearly upward only rent reviews to the higher of open market value or linked to RPI (2.5% – 5% collar and capped), compounded every fifth year – please see legal documentation.
NB: The lease to Northgate Managed Services Limited incorporates a tenant’s option to renew the lease for a term of 15 years from expiry – please see legal documentation.
• To be let to Northgate Managed Services Limited with a guarantee from Northgate Information Solutions UK Limited
• New 15 year lease from completion (No breaks) with RPI/OMRV Rent Reviews
• Popular office location close to Charing Cross Station
• 30Working Day Completion available
The Conditions of Sale, Articles of Roup and a legal pack are available from the Seller’s Solicitors and are available online at www.cbre.co.uk/auctions. Seller’s Solicitor Pinsent Masons LLP. t: 0141 248 4858. e: nicola.davey@pinsentmasons.com Ref: Ms N Davey. Joint Auctioneer CBRE (Glasgow Office). t: 0141 204 7666. e: martyn.brown@cbre.com Ref:MBrown Esq.
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For identification purposes only – please see title documentation.