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Bookmakers Investment With Residential Above, 39/41 Buttars Loan, Dundee, DD2 4PE

1,235 Sq Ft / Retail / General Retail

For Sale - £125,000.00

Available - Last updated: 23 July 2019

39/41 Buttars Loan comprise a double fronted retail unit occupied by William Hill.

The subjects are contained within a traditional neighbourhood parade with residential accommodation above and canopy cover to the front elevation along with car parking.

Location

Dundee is located on the East Coast of Scotland approximately mid-way between Aberdeen, circa 105 km (65 miles) to the north and Edinburgh, circa 96 km (60 miles) to the south overlooking the Tay Estuary and has a resident population of circa 155,000 persons and a catchment of some 235,000 persons (Source: Focus).

Dundee is Scotland's fourth largest City and is the regional centre for employment, services and retailing within Tayside.

The City has its own airport with daily flights to London (Stansted) and sits on the main East Coast Railway Line which runs services into London (Kings Cross).
The ongoing regeneration as part of the waterfront development has been well documented and the construction of the V & A Museum will help establish Dundee as a major regional centre.

The subjects are located within a busy neighbourhood location a short distance from Kingsway which is Dundee’s outer ring road.

Other occupiers in the parade include a dental surgery, convenience store/hot food takeaway.

Accommodation

We calculate the net floor area extends to 115 sq. m. (1,235 sq. ft.) or thereby.

Terms

Lease Terms - The subjects are let to William Hill Organisation Limited on an original 25 year lease which expires 9th November 2028. The annual rent is £12,700 with 5 yearly reviews. The 10th November 2016 review remains outstanding.

Terms - Our client is seeking offers in excess of £125,000 for their heritable interest subject to the existing lease. This reflects a net initial yield of 10% after normal purchasers costs.

Energy Performance Certificate - Awaiting further details.

VAT - Prices are quoted exclusive of VAT (if applicable).

Money Laundering - The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on the 26th June 2017.  This now requires us to conduct due diligence not only on our client but also and any tenant or occupiers. Once an offer has been accepted, the prospective tenant(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before the transaction can proceed.

Specification

  • Let to William Hill Organisation Limited until 9th November 2028.
  • Annual Rent - £12,700.
  • Offers in excess of £125,000 (Net Yield 10%).

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale £125,000.00 NA

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Jonathan Reid

Shepherd Commercial

01738 590065



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