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Special Terms of Sale

  • Buyers Fee (?) 3% of Sale Price (Minimum of £2500 +vat)

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.

Description

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

1,014sq ft Ground & 1st Floor Commercial Unit Held on F.R.I Lease Expiry: 31st July 2025 Passing Rent: £6,240p.a. Fantastic Town Centre Location.

The property has been calculated to extend to the following internal floor area; Ground: 64.71sqm (697sq ft) 1st: 29.46sqm (317sq ft) Total: 94.17sqm (1,014sq ft)

The property is held on a full repairing and insuring head lease on the following terms Tenant: Personal Name t/a Sew Neat Expiry: 31st July 2025 Passing Rent: £6,240p.a.

The property forms the ground and first floor of a 2 storey commercial development with common rear loading area. Benefitting from a prominent frontage, the property is unmissable on High Street.

The property is situated on High Street on a busy and prominent position within the suburb of Lochee in the City of Dundee.

The property forms the ground and first floor of a 2 storey commercial development with common rear loading area. Benefitting from a prominent frontage, the property is unmissable on High Street. Internally the property has been fitted out to the tenants requirements with open plan retailing area with partitions erected to form w.c. facilities. Access to the upper floor is situated to the rear via a staircase with ancillary storage The property is held on a full repairing and insuring head lease on the following terms Tenant: Personal Name t/a Sew Neat Expiry: 31st July 2025 Passing Rent: £6,240p.a. The property has been calculated to extend to the following internal floor area; Ground: 64.71sqm (697sq ft) 1st: 29.46sqm (317sq ft) Total: 94.17sqm (1,014sq ft)

The property is situated on High Street on a busy and prominent position within the suburb of Lochee in the City of Dundee. Dundee is Scotland’s fourth largest city with an estimated population of 145,000 and a catchment population in the region of 515,000. The city is the regional centre for commerce, retailing and employment within Tayside, and is located on the east coast of Scotland with Aberdeen, Edinburgh and Glasgow all within 90 minutes’ drive time. The city has its own Airport with daily flights to London (Stansted Airport). Dundee Railway Station forms part of the main East Coast Railway Line, which runs services into London Kings Cross station. The centre piece to the waterfront development is the V&A Dundee an International Centre for Design in Scotland, the first design museum built in the UK outside London. Neighbouring occupiers include Farmfoods, Lochee Sports Centre & Swimming Pool, Posh Nosh Cafe and Oxfam.

Full Address: 179 High Street, Sew Neat, Lochee, Dundee, DD2 3DB

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: July 2025
Rent: £6,240 per year / £520 per month
Yield: 22% (approx)
Tenant: Company
Notes: The property is held on a full repairing and insuring head lease on the following terms Tenant: Personal Name t/a Sew Neat Expiry: 31st July 2025 Passing Rent: £6,240p.a.

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Pricing Information & Bidding

Opening Bid: £29,000

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).

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £2,500 + 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.

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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.

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Auction Details

Date & Time: 28 November 2024, 10am-3pm
Type: Timed Online Auction

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