The retail parade was developed by Aldi and as such benefits from excellent car parking and servicing provision.
The premises comprise an ‘L’ shaped row of single storey individual retail units, of a steel framed construction with metal cladding to the walls and roof plus glazed frontages and service access doors to the rear.
The retail units benefit from shared cross rights over the car park and servicing areas, with the tenants contributing to a communal service charge, ensuring the common areas are maintained to a high standard.
Location
Dundee is located on the East Coast of Scotland, roughly mid way between Aberdeen and Edinburgh, overlooking the Tay Estuary and has a resident population of approximately 155,000 persons and a catchment of some 235,000.
Dundee represents Scotland’s fourth largest City and is the regional centre for employment, services and retailing within the Tayside region.
The subjects are situated on the eastern side of the City, offering an easily accessible location only a short distance from the main roundabout junction linking Arbroath Road to the A.92 & A.972/A.90 Kingsway [Dundee’s principal ring route].
Other surrounding occupiers include Ladbrokes, TSB, Majestic Wine, Co-op Funeralcare etc.
Accommodation
Unit 1 - 1,000 sq ft (92.9 sq m) - Papa John's Ltd - Rent - £XXX pa
Unit 2 - 1,500 sq ft (139.3 sq m) - Vacant - Rent - Rent - £XXX pa
Unit 3/4 - 3,500 sq ft (325.1 sq m) - Barnardo's - Rent - £XXX pa
Unit 5 - 1,500 sq ft (139.3 sq m) - William Hill Organization Ltd - Rent - £XXX pa
Terms
PROPOSAL - We are instructed by our clients to invite offers in excess of £XXX [Six Hundred and Forty Five Thousand Pounds] exclusive of VAT, subject to and with the benefit of the existing leases in place. A purchase at this level shows an attractive Net Initial Yield of 11.46%, after allowing for purchasers costs of 4.78%.
ENERGY PERFORMANCE CERTIFICATE - EPC’s available upon request.
VAT - The property is elected for VAT and therefore VAT will be applicable to the purchase price, however it is anticipated that the sale will be dealt with as a transfer of a going concern [TOGC].
LEGAL COSTS - Each party will be responsible for their own legal costs incurred in connection with the transaction.
Specification
- Excellent opportunity to acquire a small retail investment alongside a popular Aldi foodstore.
- High quality design and construction, situated in a good location with shared customer car parking.
- Planning consent for Class 1, 2 & 3 Uses.
- Total passing rental of £XXX per annum.
- Income secured against good quality national tenants.
- Offers in excess of £XXX [Six Hundred and Forty Five Thousand Pounds] exclusive of VAT, for our clients heritable interest, subject to and with the benefit of the existing leases.
- A purchase at this level , will show an attractive Net Initial Yield of 11.46% after allowing for purchaser’s costs of 4.78%.