The subject comprises a retail unit on ground level with first and second floor storage within a 3 storey traditional stone building.
The property is situated in a prime location within the pedestrianized section of High Street. Nearby occupiers include Debenhams, WH Smith and Superdrug.
Location
Dumfries is the retail, commercial and administrative centre for Dumfries and Galloway. It is located approximately 76 miles South of Glasgow and approximately 34 miles North West of Carlisle. The town is served by excellent communication links, the A75 providing direct access to the M74 motorway to the East and Stranraer to the West.
The Dumfries and Galloway region has a population of approximately 148,000 people and Dumfries has a resident population of 31,600 people.
Accommodation
Ground Floor - 125.65 sq m (1,352 sq ft)
1st Floor - 87.36 sq m (940 sq ft)
2nd Floor - 103.44 sq m (1,113 sq ft)
TOTAL - 316.45 sq m (3,405 sq ft)
ITZA - 108.64 sq m (1,169 sq ft)
Terms
TENANCY
The property is let to H Samuel Ltd on a 25 year full repairing and insuring lease from 30th September 1997 until 29th September 2022. The rent is £63,XXXa which reflects a zone A rent of £XXXsf.
TENURE
Heritable Interest
COVENANT
H Samuel has almost 400 stores nationwide and is part of Signet Jewellers, the world’s largest specialist jeweller. In the year to 2nd February 2013 they reported the following financial results.
Turnover - £243,450,000
Pre-tax Profit - £9,902,000
Net Worth - £90,232,000
An EPC can be made available upon request.
PROPOSAL
We are instructed to seek offers in excess of £575,000 reflecting an attractive initial yield of 10.44%.