• Let to Capita Business Services Limited

• Highly secure income - Pre-Tax Profits £138m, SH Funds £621m

• Approximately 9.5 years unexpired lease term

• Established commercial location

• £1,700,000, subject to contract

• 8.0% net initial yield

• £152 per sq ft capital value

The property is well located within Tannochside Park, an established mixed use business park situated approximately 2.4 km (1.5 miles) north-east of Uddingston town centre. Junction 4 of the M74 Motorway is 1.6 km (1 mile) to the south and the M8 Motorway is a short distance to the north. The A725 is some 3.2 km (2 miles) to the east.

The property is accessed via Ellismuir Way which is situated just off the park’s main arterial road, Tannochside Drive.

Tannochside Park is a modern Business Park offering good quality, contemporary office and light industrial accommodation. Other occupiers on the park include Nugensis, BT, Emtec Group, Kwik Fit and Happy Day Nursery.

The Park benefits from its close proximity to a number of retail and leisure facilities. The Showcase Leisure Park is 2.4 km (1.5 miles) to the north and includes a Showcase Cinema, Hollywood Bowl, Frankie and Benny’s, McDonalds and KFC.

Arranged over ground and first floor, the property comprises a detached, purpose built office of steel framed construction with brick elevations beneath a pitched metal clad roof.

The property is laid out to provide a feature entrance/reception area at ground floor level with predominantly open plan office accommodation at both ground and first floors. Internally, the offices benefit from a specification including raised floors, suspended ceilings, passenger lift, air handling system and male, female & disabled WC’s.

The property benefits from approximately 45 car parking spaces, providing a ratio of 1:22 sq m / 240 sq ft.

We estimate the site area to be approximately 0.25 hectares (0.62 acres), providing a site cover in the region of 40%.

Heritable (or Outright) (Scottish equivalent of English freehold).

The tenant, Capita Business Services Limited (Co. No. 2299747), has reported the following figures:

The company is a wholly owned subsidiary of Capita PLC and operates within the group’s Asset Services, Commercial Services, Group Business Development, IT Services, Insurance & Benefits Services, Digital & Software Solutions, Local Government and Health & Property, Strategic Services, Customer Management & International, Workplace Services and Integrated Services divisions. The principal activity of the company is the provision of outsourcing services. These services consist principally of the following:

• Taking complete responsibility under long term contracts for a range of integrated services comprising customer services, IT, business support and consultancy;
• Providing administration and related services; and
• Providing recruitment, training, career change and outplacement services to the public and private sectors.

Established in 1984, Capita PLC is an international business process outsourcing and professional services company, employing around 73,000 people with a Turnover of £4,898 million and Pre-Tax Profits of £475.3 million. Capita is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. For further information please visit www.capita.com.

The vendor has elected the property for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

1. An opportunity to acquire a highly secure office investment;

2. Let to Capita Business Services Limited – Pre-Tax Profits £138 million, Shareholders’ Funds £621 million;

3. Approximately 9.5 years unexpired lease term;

4. The property is in an established commercial location;

5. The property benefits from an attractive car parking supply;

6. A purchase at the asking price reflects an attractive net initial yield.