Office Portfolio

Local government let office
Cambuslang, Glasgow
Purpose built local government office
36,000 sq ft
Acquisition Structure
Date Acquired
January 2019
Rent Review
Fixed uplifts of 2.5% pa
Tenant Guarantor
South Lanarkshire Council
Lease Term
20 years, without break
In October 2020 The Company sold its sole office, a long-let property in Cambuslang, Glasgow occupied by the local council, to a specialist REIT for £8 million which reflects a low exit yield of 4.2%. The disposal pricing reflects a premium of 17% to purchase price and generates an attractive geared IRR of over 16% per annum (double the Company's 8% per annum target return).