The subjects comprise a grade B listed retail unit forming the ground floor and basement of a four storey building of stone construction surmounted by a pitched and slated roof.
Internally the unit provides an open plan front retail area which is currently configured as a barber shop. The tenant has recently refitted this area. The property benefits from a sizeable basement which provides w.c facilities, storage and kitchen area.
The tenant has recently taken on the premises and pays an annual rent of £10,000 per annum. The lease expires on 2 October 2028 although there is a tenant break option in October 2026 & 2027.
Further lease details can be provided to serious interested parties.
Location
Dundee is Scotland's fourth-largest city and sits on the north bank of the Firth of Tay on the eastern, North Sea Coast of Scotland. The city lies 36.1 miles (58 km) NNE of Edinburgh. It is served by the A90 road which connects the city to the M90 and Perth in the west, and Forfar and Aberdeen in the north.
Dundee is a regional employment and education centre, with around 325,000 people within 30 minutes' drive of the city centre and 860,000 people within one hour. Many people from North East Fife, Angus and Perth and Kinross commute to the city. The subjects are located on the northern side of Panmure Street between its junctions with Meadowside and Murraygate.
Accommodation
From sizes taken during our inspection we calculate the subject property, measured in accordance with the RICS Code of Measurement Practice (second edition, January 2018) to extend to the following approximate gross internal area (GIA):
Ground Floor: 41m²/441ft²
Basement: 76.8m²/827ft²
Total: 117.8m²/1,268ft²
Terms
Proposal - Offers over £70,000 are invited for the landlords heritable interest.
Planning - All queries in relation to redevelopment/ reconfiguration of the subjects should be addressed to Dundee City Council Planning Department.
Rating - Rateable value £8,700.
EPC - G.
Closing Date - A closing date may be set and all interested parties should make a note of interest at the offices of the Sole Agent. We reserve the right to sell or let the property without setting a closing date and we are not obliged to accept the highest or indeed any offer for the sale or lease of the property.
VAT - N/A.
Specification
- RETAIL INVESTMENT
- OFFERS OVER £70,000
- PRIME LOCATION
- HIGH LEVELS OF PASSING TRADE
- 14% INITIAL YIELD
- 100% RATES RELIEF (SUBJECT TO QUALIFICATION)
- LEASE EXPIRES OCTOBER 2028 (TENANT BREAK OPTION IN 2026 & 2027)