The site on which MFG’s North Esplanade West forecourt in Aberdeen sits, is up for sale for £2.35m.
The land is listed by Shepherd Commercial and described as a ‘prominent petrol filling station investment’. It is let to MFG under an FRI (full repairing and insuring) lease which runs until 2041.
Offers in excess of £2.35m will be considered for the 0.54 acre site and the sales agents particulars say this reflects a topped-up net initial yield of 6.47% with the following running yield profile: April 2031, 7.14% and April 2036, 7.88%. It has a passing rent of £140,000 per annum with CPI-linked uplifts (collared and capped to 1-3% per annum).
The property brochure describes the site as a ‘well-established purpose-built petrol
filling station site with associated shop facilities’. As well as the traditional diesel and unleaded forecourt, it has a separate outlet for HGVs and also offers AdBlue. There are also five EV chargepoints on the site.
MFG’s only comment was to confirm it was a tenant on the site with a long-term lease.
