Property Information
Address:
Glenwood Business Centre, Glenwood Place, Glasgow
, G45 9UH
Price: Sale Price: £380,000
Size: 9643 sq ft896 sqm
Primary Category: Office
All Categories:
Office,
Property Ref/Movehut: MH680162
Property Ref/Agent: 51638
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: April 27, 2024
Property description
Glenwood Business Centre comprises of a total of 21 high quality office suites of various sizes within a two storey detached office building. The building is of steel frame, brick/block construction with a pitched roof clad in profile metal sheeting.
The location has been a small business hub since its inception and is a great place for new and existing businesses to grow and develop. Notably, this site has been popular with indigenous businesses and professional services capitalising on the small business client base in the area. The property has also been popular with community organisations due to its accessible location and the flexibility of lease structures offered.
High-quality office building totaling 9,643 sq ft located in the Castlemilk area of Glasgow
The property is currently 63% let to seven separate tenants presenting an attractive asset management opportunity
The current passing rent is £54,000 per annum (£8.75 per sq ft)
48% of the current income (£25,897 per annum) is from the Department for Work & Pensions, guaranteed until 2030
Department for Work & Pensions occupies 32% of the total floorspace (3,106 sq ft) and has an RPI linked rent review in 2025, collared & capped at 1% & 3%
The business centre has an Estimated Rental Value of £90,000 per annum
Weighted Average Unexpired Lease Term (WAULT) of 3.01 Years
Zoned as Economic Development Area within Glasgow City Development Plan
Substantial car park providing 30 car parking spaces with a ratio of 1:325 sq ft.
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