BIDDING OPENS in...

Map & Location

Map   Street View   Satellite

Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

PRIME Full Building 3 storey commercial 3,756sq ft in prime Town Centre Location. Let to Clydesdale Bank PLC T/A Virgin Money Rent: £40,000p.a Expiry: 31st January 2035. full repairing and insuring.

Ground: 100.71sqm (1,084sq ft) 1st Floor: 95.13sqm (1,024sq ft) Second: 89.37sqm (963sq ft) Bsm: 63.64sqm (685sq ft)

Other nearby occupiers include Upper Crust Deli, Boots, River Island, Marks and Spencer, Burton and Dorothy Perkin. The Loreburn Shopping Centre is also close-by.

The property is fitted out by the tenant in accordance with their corporate specifications, refitted in 2022 following the rebranding from Clydesdale Bank to Virgin Money.

The property benefits from a prominent frontage facing south with excellent natural light throughout the day, with large display windows.

The property comprises a 3 storey commercial development of traditional construction surmounted by a pitched roof. The property benefits from a prominent frontage facing south with excellent natural light throughout the day, with large display windows. The property is fitted out by the tenant in accordance with their corporate specifications, refitted in 2022 following the rebranding from Clydesdale Bank to Virgin Money. The property is held on a full repairing and insuring head lease on the following terms; Tenant: Clydesdale Bank PLC Expiry: 31st January 2035 Passing Rent: £40,000p.a Rent Review: 1st February 2030 Tenant Break: 31st January 2028 & 2031 Covenant Info: Clydesdale Bank PLC, now operating under the Virgin Money brand, reported a total operating income of over £1.8 billion for the fiscal year ending September 30, 2023. In the same period, the bank's total assets exceeded £183 billion, with £91.88 billion attributed to the group segment and £91.72 billion to the bank segment. These figures reflect the bank's financial performance prior to its acquisition by Nationwide Building Society in October 2024. Area Ground: 100.71sqm (1,084sq ft) 1st Floor: 95.13sqm (1,024sq ft) Second: 89.37sqm (963sq ft) Bsm: 63.64sqm (685sq ft)

The property is situated on the east side of High Street, north of its junction with English Street within the town of Dumfries. Dumfries, with a population of around 37,500 persons, is the largest town in Dumfries and Galloway, and southwest Scotland's main shopping and administrative centre.The town lies approximately 75 miles south of Glasgow and 34 miles northwest of Carlisle, and occupies a strategic location at the intersection of the A75, A76 and A701 trunk roads. The A709 provides the shortest link to the A74 (M) motorway at Lockerbie, which is some 12 miles distant. The subjects boast an accessible location in the centre of Dumfries overlooking the pedestrianised High Street. There is adequate public car parking within short walking distance and there are good bus links in the vicinity. Other nearby occupiers include Upper Crust Deli, Boots, River Island, Marks and Spencer, Burton and Dorothy Perkin. The Loreburn Shopping Centre is also close-by.

Full Address: 84-88 High St and 1-3 English St, Let Virgin Money Investment, Dumfries, DG1 2BJ

Show More

Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2035
Rent: £40,000 per year / £3,333 per month
Yield: 14% (approx)
Tenant: Company
Notes: Tenant: Clydesdale Bank PLC Expiry: 31st January 2035 Passing Rent: £40,000p.a Rent Review: 1st February 2030 Tenant Break: 31st January 2028 & 2031

Document Downloads

  Legal Pack (Pending)

 * Click the above 'Pending' document link to log your request and we will notify you once available.

Pricing Information & Bidding

Opening Bid: £295,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

How to Bid... To take part in the online auction you must firstly create a bidding account. Once you have a bidding account you can then login and place bids during the auction. Please click on the following link to view the latest Online Auction Bidders Guide now.

View Live Online Auction

Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Submit Offer Now

SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

Payment Calculator

Please use our PAYMENT CALCULATOR to confirm the necessary reservation deposit for this property if you are successful with an offer now or bid at auction.

Payment Calculator

Auction Details

Date & Time: 27 March 2025, 10am-3pm
Type: Timed Online Auction

View Full Auction Catalogue