Location Estimated District Population: 162,000 Miles: 17 miles west of Edinburgh 33 miles east of Glasgow
Roads: A706, A803, M9
Position The property is located on the Mill Road Industrial Estate to the west of Linlithgow town centre. The town benefits from its strategic position between Junctions 3 and 4 of the M9. Edinburgh International Airport is located 12 miles to the east.
Nearby: Arco, Howdens, Royal Mail, Cape Industrial Services
Description OFFICES arranged on the ground floor only. The property benefits from parking for about 16 cars to the front of the property and a secured site extending to about 0.43 hectares (1.07 acres). There is a substantial yard area to the rear of the property with separate access via security gates.
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: £45,500 per annum Minimum fixed uplifts (3): Year 5 – £51,479 per annum or OMRV Year 10 – £58,243 per annum or OMRV
Expiry: December 2026
VAT is applicable to this lot – please see Conditions of Sale and Articles of Roup.
Internal Areas
(3,935 sq ft) (1,105 sq ft)
(5,040 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 £114.4 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.
(4) The ancillary/workshop area has been measured on a gross internal basis. 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.
Prominent Heritable Office Investment
• 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
• 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: N Davey. Joint Auctioneer CBRE (Glasgow Office). t: 0141 204 7666. e: martyn.brown@cbre.com Ref:MBrown Esq.
83
For identification purposes only – please see title documentation.