Prime City Centre Location
Full Building
4,958sq ft
F.R.I Lease
Expiry February 2027
Passing Rent: £54,XXX.a.x
Price: £499,000
Location
The property is situated on the north side of High Street, north of its junction with English Street within the town of Dumfries.
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 on 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, Bob & Berts. The Loreburn Shopping Centre is also close-by.
Property
The property is a red sandstone corner building formed over 3 stories surmounted by a pitch and slated roof.
Benefitting from a prominent return frontage the property benefits from and aluminium framed and glazed display window with A.T.M and automatic double doors.
Internally the floors are of solid concrete construction overlaid in carpet with lighting provided by fluorescent strips recessed with the suspended acoustic tile ceiling. At ground floor level the property serves as a local TSB bank and is open to the public. There is a cashier’s counter with additional meeting rooms to the rear of the floor.
The first floor level offers meeting rooms as well as a staff canteen, toilets and storage space. The second floor is used primarily
as storage. The unit has been fitted out by TSB to a high standard and is in excellent condition.
Area
The proeprty has been calculated to extend to the following new internal floor area;
Ground: 176.3sqm (1,898sq ft)
1st: 165.9sqm (1,786sq ft)
2nd: 118.4sqm (1,274sq ft)
Total: 460.6sqm (4,958sq ft)
Investment Summary
The property is held on a full repairing and insuring head lease on the following terms;
Tenant: TSB Bank Plc
Expiry: 7th February 2027
Passing Rent: Rebased to £54,XXX.a.x.
Break: T.S.B. have recently dismissed their requirement for a break in 2022. Therefor the is a straight 6 years remaining on the lease.
Tenant Covenant: TSB Bank Plc has a D&B rating of 5A1 and has a net worth of £1,879,200,000 with a gross profit of £1,297,300,000.
Price
Our client would dispose of their freehold interest for £499,000
V.A.T
The property has been elected for V.A.T. as such the transaction will be treated as a T.O.G.C
Title & Lease
Available on request
Legal
Each party shall bear their own legal costs incurred in the transaction
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.