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INVESTMENT FOR SALE WITH FUTURE RESIDENTIAL DEVELOPMENT ASPECT - TOWN CENTRE DUMFRIES

For sale: POA|Residential, Retail, Office, Retail - High Street, Offices

PROPERTY DETAILS

FOR SALEPOA
ADDRESSVision Express, 90 High Street, Dumfries, Dumfries and Galloway, DG1 2BJ
TYPEResidential, Retail, Office, Retail - High Street, Offices
TENUREDevelopment Opportunity, Investment Opportunity, For Sale Freehold
POSTED ON18th September 2020

DESCRIPTION

Prime Town Centre Location
88, 88a, 90 & 92 High Street
Well Let Retail Investment
Let to Vision Express & Private Individual t/a "Upper Crust Deli"
Passing Rent: £43,650p.a.
1st & 2nd Floor Vacant Office
E.R.V. £12,000p.a.
Total E.R.V £55,650p.a
Sale Price: £425,000


Location

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  Vision  Express,  Boots,  River Island,  Marks  and  Spencer,  Burton  and  Dorothy  Perkin.  The Loreburn Shopping Centre is also close-by.


Property

The property comprises a 3 storey commercial development of traditional construction surmounted by a pitched roof.

Separated to form 2 no ground floor retail units plus 2 office suites at first and second floors, accessible via a recessed secure entry from High Street, the upper floors may lend themselves to future residential conversion.

The ground floor retail units offer prominent frontages facing south with excellent natural light throughout the day, with large display windows.

Upper Crust Deli is fitted out to form a sandwich bar and delicatessen with partitions erected to the rear to form staff w.c, store room and open plan prep area with access to the basement store via a single staircase.

Vision Express has been fitted out internally in accordance with the tenant corporate specification with lighting provided by way of fluorescent strips recessed within the suspended acoustic tile ceiling, with partitions erected to form private consultation room, staff room, staff w.c. facilities and store. Forming ground, basement and upper floor.

The upper floor office accommodation is accessed via a partially recessed controlled entry door to the side of the retail units. The office space extends to  a  large  open  plan  office  with ancillary office space, kitchen facilities and separate toilets.
Access  to  the  suites  is  via  a  common  entrance door from the High  Street  and  a  shared  internal  stair leading to first and second floors.  Each  suite  has  a separate  buzzer  entry  system.  Internally  the  space  is  bright with natural daylight captured via double glazed windows.

Area

The properties have been calculated to offer the following net internal areas;

88 High St (Office): 145sqm (1,560sq ft)
90 High St: Ground 106.8sqm (1,150sq ft)
Bsm 37sqm (400sq ft)
1st. 37sqm (400sq ft)
92 High St: Grnd 18.58sqm (200sq ft)
Bsm 18.58sqm (200sq ft)

Executive Summary

The following properties are held on full repairing and insuring head leases on the following terms;



90 High Street

Tenant: Vision Express UK Ltd
Term: Expiry 15th May 2023
Passing Rent: £35,250p.a.

92 High Street

Tenant: Personal Name t/a "Upper Crust Deli"
Term: Expiry 15th May 2023
Rent: £8,400p.a.

88 High Street

Currently vacant with an E.R.V of £12,000per annum

Price

The property is available as a whole for £425,000

V.A.T.

Figures quoted are exclusive of V.A.T.

E.P.C.

Available on request

Viewing

By appointment

Legal

Each party shall bear their own legal costs incurred in the transaction

LOCATION

Location: Vision Express, 90 High Street, Dumfries, Dumfries and Galloway, DG1 2BJ

Dumfries (0.5 miles)

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