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The Henge

The Henge
Glenrothes, KY7 5PP

Use Class E

31,585 sq ft

£7,300,000

Use Class

E

Size

31,585 sq ft

Price

£7,300,000

Marketed by Mason Owen

Last updated 15/03/2021
The Henge
Foodstore Investment For Sale

Key Points

  • Over 300,000 people live within 20 miles of the property. Resident population is circa 40,000 people
  • Modern development built to a premium specification
  • Food convenience led scheme totalling 33,167 sq ft & anchored by a stand-alone Marks and Spencer Simply Food
  • Other tenants include Icelands Food Warehouse, Farmfoods and Indigo Sun
  • Three of the four tenants are classified as "Essential Retailers" and are significant footfall drivers.
  • Offers in excess of £7,300,000 (Seven Million Three Hundred Thousand Pounds Stering) exc of VAT are invited.
  • A purchase at this level provides an attractive net initial yield of 6.75% assuming purchaser's costs at 6.8%
The subjects are a new commercial development anchored by a 11,528 sq ft Marks & Spencer Simply Food which opened in 2019. There are four retail units within the development and have the benefit of 159 car parking spaces.
The buildings comprise steel frames clad with a mixture of traditional block cavity construction and insulated cladding panels with aluminium rain screen.

Floors are insulated ground bearing concrete slabs and roofs are insulated composite panels laid to fall to integral gutter system.

The Henge benefits from a blanket open consent across the whole park to include Uses Classes 1, 2, 3, 7, & 11.
Glenrothes is a town situated in the heart of Fife in east central Scotland about 31 miles north
 of Edinburgh and 22 miles south of Dundee. The town has a resident population in the region of 40,000 persons and 300,000 within a 20 mile catchment area. The town was developed during the 1950s-60s and has excellent recreational facilities, including parkland, various sports venues and two golf courses. In recent years,  Glenrothes has become a focus for electronics manufacturing, earning it the nickname ‘Silicon Glen’, after Silicon Valley in the USA.

The Henge benefits from a prominent position between the Kingdom Shopping Centre and North Street on the A911. Nearby occupiers include Fife Council offices, Lidl, McDonalds, Morrisons, Asda, Aldi, B&M and numerous other national and local occupiers.
The adjacent site (former YMCA buiding) was recently granted full planning permission to develop two drive thru units. We understand there is interest from global brands to take these units.

Accommodation

Accommodation details below:

Areas

sq ftsq m
Mark and Spencer11,5281,070
Farmfoods7,954738
Indigo Sun 1,894175
Iceland t/a The Food Warehouse10,209948

Financial

Purchase Price

£7,300,000

Lease Term

The properties are held on a heritable title (Scottish equivalent of English freehold)

Last Updated

15/03/2021

Misrepresentation Notice

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.

All data ©2021 Completely Property Technology Limited

Mason Owen

Mason Owen

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