Greenmarket Studios, is a state-of-the-art purpose-built student residence with ground floor retail. The development offers 55 ensuite studio rooms arranged over five floors. The property benefits from a best in class specification.
( Agency Pilot Software ref: 54613 )
Location
Dundee is Scotland’s fourth largest city with a resident population of around 150,000 people with approximately 500,000 people living within the primary catchment area. The city is located on the north bank of the River Tay, approximately 60 miles north of Edinburgh, 65 miles south of Aberdeen, and 80 miles east of Glasgow. Dundee is strategically located with 90% of Scotland’s population within a 90 minute drive time. Dundee has excellent road and rail communications with the A90/M90 linking to Edinburgh, Aberdeen and the wider motorway network. The city also sits on the East Coast Mainline Railway. Dundee Airport is located approximately 2 miles west of the city centre operating daily flights to London
Terms
Tenant Joup 611 Ltd (Trading as Pret A Manger)
Term 20 Years from commencement date Break
Tenant only break at the 10th anniversary of the date of entry
Rent Review Repairing Obligations Year 1 : £55,000 | Year 2 : £58,000 | Year 3 : £62,000 | Year 4 : £70,000 5th, 10th and 15th anniversary of the date of entry FRI
Expiry 20 years from the date of entry
Specification
- For Sale Prime Purpose Built Student Scheme
- 55 studio beds with ground floor retail let to Pret A Manger
- Projected Income of £576,600 underpinned by first years rent guarantee
- High construction costs restricting the development pipeline
- One of Abertay University's preferred partners