Tenanted Commercial LOT 149

121-123 High Street, Dumfries, DG1 2QT
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Description

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

FULL BUILDING 1,752sq ft Prominent retail unit within town centre of Dumfries. Held on F.R.I Lease Expiry 20th September 2033 Passing Rent: £12,000p.a. Refurbished internally over £40,000

Ground floor: 81.00sqm (872sq ft) 1st floor: 32.30sqm (348sq ft) 2nd floor: 29.70sqm (320sq ft) Attic floor: 19.80sqm (213sq ft) TOTAL: 162.80sqm (1,752sq ft)

The property comprises a retail unit, formed within a traditional mid-terraced property, designed over three floors plus attic and constructed of sandstone, with a pitched and slated roof.

The shop is double fronted and finished in painted timber, incorporating timber framed single glazed windows and a recessed central entrance doorway. Above the shopfront is a timber fascia board.

The property is situated to the west of High Street, adjacent to the Midsteeple and within the town centre of Dumfries. High Street is the min shopping street within the town and is pedestrainised.

The property comprises a retail unit, formed within a traditional mid-terraced property, designed over three floors plus attic and constructed of sandstone, with a pitched and slated roof. The shop is double fronted and finished in painted timber, incorporating timber framed single glazed windows and a recessed central entrance doorway. Above the shopfront is a timber fascia board. Internally, the space at ground floor is designed to a modern standard and forms main barbering area, staff office and toilet accommodation. The main retail area has a concrete floor overlaid in carpet, plasterboard walls and a suspended acoustic tiled ceiling incorporating heating and lighting systems. Toilets are formed to the rear and are designed to a modern standard. The first, second and attic floors provide basic storage. We calculate the property to extend to the following areas: Ground floor: 81.00sqm (872sq ft) 1st floor: 32.30sqm (348sq ft) 2nd floor: 29.70sqm (320sq ft) Attic floor: 19.80sqm (213sq ft) TOTAL: 162.80sqm (1,752sq ft) The property has been entered onto the valuation roll with the following NAV/RV £11,900 The property qualifies for rates exemption under the small business bonus scheme The property is held on a full repairing and insuring head lease on the following terms; Tenant: Personal Name - Operating as barber shop Expiry: 20th September 2033 Rent: £12,000p.a. Rent Review: 21st September 2029 Tenant Break: 21st September 2027

The property is situated to the west of High Street, adjacent to the Midsteeple and within the town centre of Dumfries. High Street is the min shopping street within the town and is pedestrainised. The town centre benefits from ample free car parking which is both on-street and within a number of surrounding car parks. A number of national traders are represented within the street, including Mountain Warehouse, Waterstones, M+S, Clarks, Costa and Shoezone. Occupiers in the locality include a mix of independent and national traders. Dumfries comprises the main town town and administrative centre within the Dumfries and Galloway region. The town has a resident population of approximately 32,000 persons. The town is located north of the Solway Firth, and on the main A75 road which leads from Stranraer in the west to Carlisle (via the M6) in the east. The A701 and A75 provide direct connections to the M74/M6, being the main road leading from Scotland to the border. The town benefits from good public transport connections, with a mainline railway station in the centre of the town, and a number of local and regional bus services.

Full Address: 121-123 High Street, Dumfries, DG1 2QT

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2033
Rent: £12,000 per year / £1,000 per month
Yield: 11% (approx)
Tenant: Company
Notes: Refurbished internally over £40,000 spent in fit out low rent £12,000 per annum market rent £15,000 Pa

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Pricing Information & Bidding

Opening Bid: £105,000

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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 £1,750 for on time settlement

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Buy Now Price = £123,000

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Auction Details

Date & Time: 02 May 2024, 10am-3pm
Type: Timed Online Auction

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