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Retail Premises In Prominent Corner Position, 6 Queensberry Square, Dumfries, DG1 1BL

4,958 Sq Ft / Retail

For Sale - £565,000.00

Available - Last updated: 31 May 2022

Prime City Centre Location

Full Building

4,958sq ft

F.R.I Lease 

Expiry February 2027

Passing Rent: £54,500p.a.x

Price: £565,000 

 

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 £54,000p.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 £565,000

 

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.

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £565,000.00 NA

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Contact agents

Will Rennie

TSA Property Consultants

0141 538 0192



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