Valuation SOE

Question 1

Industrial – Airdrie - What was the purpose

Answer 1

Internal Accounting

Question 2

Airdrie -How did you value this?

Answer 2

Vacant Possession

Question 3

Airdrie -What was the size of the unit?

Answer 3

• 5075 sqft

Question 4

Airdrie -Can you give some details regarding the inspsepction

Answer 4

The Property comprises a mid-terrace industrial/warehouse unit of single-storey design, positioned within an established
industrial estate environment within the Chapelhall district of south Airdrie. The building is of block and brick construction,
surmounted by a steel roof truss system covered by a pitched metal clad roof which incorporates numerous translucent
roof panels throughout.

Upon entry to the unit the accommodation has been sub-divided via internal block walls into two distinctive parts; the
office/administrative element and the industrial/warehouse element. The office area is configured to provide an open plan
office, manager’s office, boardroom, kitchen/canteen and staff/visitor WCs. Typically these areas have a mixture of vinyl,
tile or carpet floor coverings, mineral tile suspended ceilings incorporating recessed luminaires, painted block walls, wall
mounted plug sockets and a floor-to-ceiling height of 2.3m. The industrial area has a maximum internal clearance height
of 3.6m due to the steel roof system, suspended stripped fluorescent lighting, painted concrete floor and roller shutter door
access to the yard outside. The roller door is chain-operated and measures 3.5m (wide) x 3.5m (high). Heating to the office
and administrative spaces is via wall mounted gas central heating radiators whilst the workshop benefits from suspended
gas-fired warm air blowers.
Externally the yard is relatively small but capable of accommodating 8 to 10 vehicles at any given time. The yard is
contained by a circa 6 foot high stone wall and there is direct access to Roseberry Lane.

Question 5

Airdrie -How did you measure

Answer 5

GIA

Question 6

Airdrie -How did you value this

Answer 6

capital rate of £55

Question 7

Airdrie -what was the MV

Answer 7

£280,000

Question 8

Airdrie - was there anything that restricted value?

Answer 8

A small yard to the rear of the unit allows capacity for loading or off-road staff parking.

here is mezzanine storage above the office/administrative section but given the
restricted access and floor-to-ceiling height we have not attributed any specific value to this section of the premises but
reflected it’s inclusion within our capital rate

Both the industrial and office sections of the Property would be classified as
being of basic Grade B standard due to their condition and specification.

Question 9

• Multi-let office – Brunswick House Glasgow
  what was the purpose

Answer 9

Acquisition

Question 10

Brunswick House Glasgow - what was the basis

Answer 10

MV

Question 11

Brunswick House Glasgow - what method of valuation did you use

Answer 11

Investment - T/R

Question 12

what was the market rent

Answer 12

£18 sf so judged the property to be revisionary

Question 13

what did you advise the client

Answer 13

• Advised client on value and that the short term license agreements in place would not be regrded highgly by an investor.

Question 14

what was the mv

Answer 14

£1,630,000 IY 9% RY 9.5%