Industry trades from a substantial city centre freehold property with its entrance on Seagate close to the junction with Commercial Street. It occupies the ground floor with mezzanine level along with the basement within the terraced property. The recessed doorway has eyecatching signage above and alongside with separately owned accommodation on the floors above.
THE BUSINESS - This is a great opportunity to purchase a successful and well run business currently operating as a bar and late night entertainment venue. Our clients have owned the property since October 2015 which has undergone modernisation during this period and remains a popular and well frequented part of the Dundee nightlife. At present, the business is run under management with a mix of full and part-time members of staff. The business is one of the largest late night premises in Dundee and is fully licensed with a 3am trading licence on Friday & Saturday nights. It should be noted that the premises could be utilised for other business uses and may indeed, subject to Local Authority planning consents, be split into two separate units.
Location
Industry benefits from an excellent trading location on Seagate, in the heart of the city centre in the continually developing city of Dundee. Seagate is one of the main shopping areas within Dundee city centre, not far from the Overgate Shopping Centre and Caird Hall and close to the Abertay University. There is a vast array of retail units, public houses, cafes and restaurants along with a wide selection of residential flats and apartments in the vicinity.
Dundee has a population of circa. 150,000 and lies on Scotland’s east coast on the northern banks of the Firth of Tay and is linked to Fife via the Tay Road and Rail Bridges.
The city of Dundee is home to two universities and is currently enjoying a massive transformation of the waterfront area including the building of the V&A Dundee which is due to open later this summer along with further hotel and retail developments.
Accommodation
INTERNAL DETAILS:
Ground Floor - This area is fitted out as a bar which is positioned on the right hand side on entering and offers a number of high tables and stools as seating and gives access to the mezzanine level which offers a further seating area which is available for private parties. Both of these areas are very modern in appearance with exposed stonework and attractive lighting throughout. There is also a fully fitted kitchen with flue and full extraction system on this level along with disabled w/c facilities.
Basement Level - This area has traditionally been used as a Nightclub and features two cloakrooms, two bars, DJ booth, a selection of booth seating, again benefits from a high end lighting display and is well maintained throughout. Ladies & gents w/c facilities along with beer cellars are also situated on this level.
Terms
SERVICES - We are advised that all mains services are connected.
TENURE - Freehold & leasehold options available.
DEVELOPMENT - Subject to local Authority planning consent, the property has potential for alternative use.
RATES - The current rateable value as per April 2017 is £34,000.
PRICE - Freehold – a guide price of £220,000 + VAT is sought for the heritable property, goodwill of the business, fixtures and fittings. Leasehold option also available. A premium of £25,000 is sought with an annual rental of £26,000 payable.
Specification
- Substantial city centre freehold property
- Currently trading as “Industry Late Night Venue”
- Popular & well known Dundee hotspot
- Scope to develop existing trade
- Situated close to ongoing city centre developments
- May suit alternative business ideas
- Kitchen