What sort of rent would you expect on your rental unit that you bought in Edinburgh?
ERV’s were between £8-11 per sq ft at the time of purchase, prime rents in Edinburgh on industrial stock are now at £16.50 per sq ft.
What would be an expected void on a vacant unit in the area?
3-6 months
What is the vacancy rate of industrial stock in Edinburgh?
3.5%
What are prime yields on industrial assets in Edinburgh?
6-7% - there is however a lack of transactions that have occurred so that is more generally Scotland
What are prime rents in Glasgow industrial?
£9.00 per sq ft
What yield would you expect on an out of town office like your one in Blantyre?
10%+
What was the cap and collar on the CPI linked?
1.5% collar, 3.5 cap
You’ve mentioned that you secured your tenant a license, what’s the difference between a lease and a license?
o A lease provides an occupier with an estate in the relevant land – a license is a permission to make it lawful for them to use the land
o A lease can be assigned – a license is normally a personal right that cannot be assigned
o A lease cannot be terminated until it expires (unless there is a break clause) – a license can usually be revoked at any time.
