The subjects comprise a mid terraced retail property occupied by American Golf and contained within a terraced parade of similar units. The main walls are of brick construction with pitched slate roof over, forming part of a ‘B’ listed former railway shed . Internally the accommodation comprises open plan retail space and associated storage ,kitchen and toilet facilities. There is both front and rear access into the property.
Location
Dundee is located on the east coast of Scotland approximately mid-way between Aberdeen (circa 105 kilometres (65 miles) to the north) and Edinburgh (circa 96 kilometres (60 miles) to the south) overlooking the Tay Estuary and has a resident population of circa 150,000 persons and a catchment of some 500,000 persons (source: Dundee City Council).
Accommodation
Retail Showroom 372 sq m (4,000 sq ft )
Terms
The property is available for sale at £475,000 subject to the existing occupational lease. A purchase at this level would represent a net initial yield of 8.87%.
VAT The property hasn’t been elected for VAT and as such VAT will not be payable on the purchase price.
MONEY LAUNDERING The money laundering, terrorist financing and transfer of funds (information on the payer) regulations 2017 came into force on the 26th June 2017. This now requires us to conduct due diligence not only on our client but also and any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before the transaction can proceed
COVENANT/LEASE American Golf is Europe’s largest golf retailer and has 93 stores in the UK and the Republic of Ireland. The property has been let to American Golf (Trading) Ltd from 6 February 2017 and expires 5 February 2027. They did not exercise their break option in 2022. The annual rent is £44,000 per annum
Specification
- EXCELLENT INVESTMENT OPPORTUNITY IN POPULAR MIXED RESIDENTIAL/ COMMERCIAL LOCATION.
- LET TO AMERCIAN GOLF (TRADING) LIMITED UNTIL 5TH FEBRUARY 2027 AT £44,000 PER ANNUM
- PRICE - £475,000
- NET INITIAL YIELD OF 8.87%