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Accommodation
The property has been measured in accordance with the RICS Code of Measuring Practice and provides a Gross Internal Area of 1,137 sq m (12,242 sq ft).
A set of floor plans is available to download.
Tenure
Heritable Interest (Scottish equivalent to English Freehold).
Tenancy
The subject property was pre-let to PPL Training Limited on a lease from 11th September 2025, expiring on 10th March 2035 (9 years unexpired lease term).
The passing rent is £120,000 per annum (£105.54 per sq m / £9.80 per sq ft). The lease benefits from an upwards only rent review on the 5th anniversary (11th March 2030) to the greater of the passing rent or open market rental value.
The lease is held on full repairing & insuring terms (subject to a photographic schedule of condition). The tenant has recently spent over £400,000 on an internal refurbishment of the building.
The tenant had a break option on 10th March 2030 which has been removed, demonstrating their commitment to the property. The tenant has been granted a three-month rent-free period from xxx 2026. The vendor will top-up the income by way of an appropriate adjustment on the completion sum, in order than an investor does not suffer an income shortfall.
The property was previously occupied by the NHS for 15 years, prior to the pre-let to the current tenant.
Covenant
PPL Training Limited (Co. No. 03982955) has reported the following figures:
| Year Ending | 30th June 2024 | 30th June 2023 |
| Turnover | £10,348,794 | £8,958,538 |
| Pre-Tax Profits | £2,981,375 | £1,603,452 |
| Net Assets | £2,789,950 | £3,338,140 |
PPL Training Limited was founded in April 2020 and is an industry-leading provider of Safe Systems of Work and Technical Compliance training courses in the UK and internationally. They specialize in disciplines such as High Voltage, Low Voltage, Mechanical and Pressure Systems, Legionella, and Fire Safety. PPL training is currently working with over 100+ NHS Trusts across England, Scotland, Wales and Northern Ireland.
The company has two office and training facilities in York, three in Slough and one in Livingston.
In 2025, as part of their planned expansion to boost capacity in Scotland, the company relocated their centre to the subject property in Livingston, enabling them to replicate the practical training facilities they have in York and Slough, covering all disciplines within their training course portfolio for the Scottish region.
For further information please visit www.ppltraining.co.uk
The Scottish Industrial Market - CAN WE UPDATE?
The Scottish industrial property market continues to demonstrate robust activity, driven by strong demand and limited supply across all key regions. Prime industrial rents have seen sustained growth, particularly for modern, high-quality units, reflecting the ongoing appetite from occupiers in sectors such as logistics, e-commerce, and light manufacturing. Investment in the sector remains competitive, with a notable interest in assets offering long-term income potential and opportunities for speculative development to address the supply-demand imbalance
In 2024, the Scottish industrial investment market experienced a notable rebound, with investment volumes for the sector reaching £359 million, significantly up from a five-year low of £292 million in 2023. This contributed to over £2 billion in total commercial property transactions across Scotland. Prime industrial rents saw sustained growth throughout Scotland, hitting a record £16 per sq ft in Edinburgh, driven by historically low vacancy rates across the central belt. The greater Glasgow region has a vacancy rate of around 3% but if you remove obsolete stock from these statistics, the rate drops to 1.50%-2.00%. Despite a challenging first half, the sector closed 2024 with strong fundamentals, attracting both domestic and international capital, anticipating further yield hardening throughout 2025.
VAT
The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek a figure of £1,125,000 (One Million, One Hundred and Twenty-Five Thousand Pounds), subject to contract, reflecting a net initial yield of 10.0% and a capital value of £92 per sq ft.
Please note that a purchaser will be re-charged the costs of the searches (£xxx) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of 1.0% of the purchase price plus VAT.
Investment Considerations
An opportunity to acquire a modern hybrid industrial / office investment located in Scotland’s Central Belt;
Situated within an established business park;
Let on a new lease until March 2035, providing an attractive unexpired lease term;
Let to an established tenant who has invested over £400,000 in the building and has removed their break option, demonstrating their commitment to this location;
Low passing rent of £120,000 per annum (£9.80 per sq ft);
Attractive lot size to an investor;
Attractive net initial yield.
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Data Room
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