HFD Property Group has put EcoCampus at Hamilton International Park, Lanarkshire, up for sale in what is expected to result in the biggest investment transaction in Scotland so far this year.
CBRE has been appointed to sell the three interlinked academic and laboratory buildings totalling 235,222 sq ft.
Market sources expect the sale to fetch around £75m – a 4% yield.
The campus is let to University of the West of Scotland on a 35-year lease with fixed annual rental uplifts of 1.5%.
The tenant will have an option to extend their lease for a further 25 years in the years 2052, 2077, 2102, 2127 and 2152.
EcoCampus was speculatively developed by HFD Property Group within the surrounding enterprise zone area and completed in 2011.
UWS was granted consent in 2016 to convert the existing three EcoCampus buildings from office to university use, and fit out works are currently under way. It is also planning sports facilities, student housing and a student union.
UWS has four campuses across the west and south-west of Scotland in Ayr, Dumfries, Hamilton and Paisley. It will be moving the Hamilton campus to EcoCampus.
The Hamilton campus is the focus of a large-scale regeneration project by South Lanarkshire Council.
Stephen Lewis, managing director of HFD Property Group, said: “Given the attractiveness of the asset itself, the long income with fixed increases and the unique nature of its sustainability credentials, we believe that there will be very strong interest. Whilst convention is to provide a guide price, we believe that it is only ultimately an investor that can determine the value of this specific investment to them.”
Hamilton International Park is a mixed-use business park, in Scotland’s central belt. The park is 13 miles south east of Glasgow city centre and 45 miles west of Edinburgh city centre.
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