PRESS RELEASE June 2008

HAMMER EXPECTED TO FALL AT £3.5 MILLION FOR HEADQUARTER BUILDING AT TANNOCHSIDE PARK

Redundant treatment works, former telephone exchanges and Highland family or holiday homes come up for sale

SVA Property Auctions, Scotland's independent auction service, will be putting 54 Lots under the hammer on Wednesday 18th June at the Central Hotel in Glasgow.

Two of the lots are premier office buildings at Tannochside Park, Uddingston, one of Scotland’s most successful business parks, lying 7 miles to the east of Glasgow.

The bigger building extends over 31,200 sq ft and is a purpose built office headquarters, providing high quality open plan accommodation over two levels. The office space is spread over two wings, spanning from a central core, which features an impressive full-height atrium. Built in 2000 by Morrison Construction Ltd, the entire property was re-decorated and re-carpeted in 2006. A large, newly fitted out refectory with full catering kitchen is provided on the ground floor. The property is being sold with vacant possession and offers are expected to rise to around £3.5 million.

Adjacent to the headquarter building is a second detached office building extending over 18,800 sq ft across two floors. The property was constructed in 1999 and upgraded in 2005/06 to a high specification. The property is suitable for most office uses or for an administration or call centre. The accommodation could also be readily divided to provide smaller office suites. The premises are being sold with vacant possession subject to the former owners taking a short lease-back until the end of the calendar year.”

Says Vigers, SVA Property Auctions director and auctioneer: “Both of these Tannochside properties offer tremendous walk-in opportunities for businesses looking to relocate. Given the size of the headquarters building, this provides opportunities for multiple business lets or for partial owner occupation – perhaps with a tenant in one of the wings. This obviously would give the purchaser the potential to expand their operations further down the line. There has already been considerable interest in these two lots and we are expecting offers in the auction room to rise to £3.5 million for the headquarters building and £1.35 million for the smaller building.”

On the residential side, some of the highlights from the June auction include ”Tigh An Beag” an attractive detached four bedroom house in Upper Inverroy, by Roy Bridge, 13 miles north east of Fort William. The cottage has an interesting split level layout, is set in private garden grounds and has a spectacular view from the front of the house towards the Grey Corries which lie adjacent to Aonach Mor. As the area is renowned for its natural beauty and wide range of outdoor activities, the house is ideal for a family or holiday home. Bids are expected to settle at around £300,000.

A second fine family home is Rosebrae, in Muir of Ord, 12 miles north west of Inverness. The south facing detached 5 bedroom house is set in a 0.5 acre plot and a private drive leads from the road to the side and rear of the house. The house is stone built under a pitched slated roof and dates back to around 1918. The substantial gardens are mainly laid to grass and there is a selection of timber outbuildings, including a garage. It is hoped that bidding for Rosebrae is likely to be around £250,000 mark.

Regular vendor, Telereal is offering Lochwood Mains Repeater Station by Lochwood Mains Farm at Beattock, near Moffat. Set in an attractive rural location, five miles south of Moffat, the 0.11 acre site comprises a broadly rectangular plot, bounded by grazing land. Inside the repeater building there are two large rooms with concrete floors. Anyone looking to buy their own repeater station will need between £15,000 and £20,000 in their pocket.

Another regular vendor, Scottish Water, has 18 further lots coming under the hammer, including the redundant Gourlaw Filters in Rosewell, Midlothian. Standing in a pleasant countryside location the property is just a 10 mile commute from Edinburgh. SVA auctioneers are looking for over £200,000 for the property and expect it will be snapped up as a residential project, despite the area next door having been zoned for open cast mining. Interested parties are also expressing interest in the site for more commercially oriented opportunities.

Says Vigers: “Not surprisingly, the market is continuing to demonstrate caution and we are seeing reduced speculative buying in the auction rooms. However, people still have requirements for both residential and commercial properties and when we can offer them at the right time for the right price, buyers are still definitely out there.”

The SVA Property Auctions sale will take place at 2pm at Glasgow's Quality Central Hotel on 18th June. The next scheduled auction is also at the Quality Central Hotel on Wednesday 1st October.

NB: Photography can be lifted from the enclosed catalogue with no copyright infringement or equally can be lifted from the website
www.sva-auctions.co.uk

For further information, please contact Shaun Vigers, SVA Property Auctions on 0131 624 6640.