Prominent Roadside Retail Investment, Units 1 & 2, 78 Glasgow Street, Dumfries, DG2 9AQ
8,287 Sq Ft / Other / Investment
For Sale
- £975,000.00
Under Offer - Last updated: 19 November 2024
Summary
Highly prominent roadside retail premises on a large site benefitting from dual access from Glasgow Street and College Street with generous parking provided to the front and rear of the site.
The building is of steel portal frame construction surmounted by a pitched roof clad with insulated panels.
Each unit provides well-presented open plan accommodation that are fitted out to a high standard.
Loading access is provided to the rear of the Salvation Army unit.
Key Points
Attractive roadside site with generous on-site parkingSituated on main route into DumfriesLet to Dynamic Retail Limited (CJ Lang & Son owned) and Salvation Army Trading Company Limited (Donation Centre)Average WAULT of 13.5 years with no breaksTotal passing rent of £82,500 per annumo/o £975,000 invited = NIY of 8%
Tenancy Information
Unit 1
Tenant: Dynamic Retail Ltd (SC181161) t/a Spare and owned by C.J. LANG & SON LIMITED
Lease Start: June 2018
Lease Expiry: May 2043, no breaks
Passing Rent: £32,500 per annum
Rent Reviews: 5 yearly upwards only open-market, next in June 2028
C.J. LANG & SON LIMITED t/a SPAR operate over 300 stores in Scotland with last filed accounts for 2023 showing a turnover in excess of £221 Million with net profit of over £3 Million.
Unit 2
Tenant: Salvation Army Trading Company Limited (02605817) / Donation Centre
Lease Start: August 2022
Lease Expiry: August 2032, no breaks
Passing Rent: £50,000 per annum
Rent Reviews: August 2027, upwards only open-market
The tenant will benefit from 3 months rent-free in 2026 and 2027
Salvation Army Trading Company Limited (02605817) operate from over 400 shops across the UK and 20 Donation Centres. The last filed accounts for 2023 showed a turnover in excess of £73 Million with a net profit of over £6M.
Location
Dumfries is the retail, commercial and administrative centre for Dumfries and Galloway located approximately 76 miles south of Glasgow and 34 miles north-west of Carlisle. The town is served by excellent communication links, the A75 providing direct access to the M74 motorway to the East and Stranraer to the West. The Dumfries and Galloway region has a population of approximately 148,000 people and Dumfries has a resident population of 31,600 people.
More specifically the subjects are situated on the east side of Glasgow Street (A76) at its junction with Union Street, one of the main routes into Dumfries Centre benefitting from high volumes of passing traffic.
Cuckoo Bridge Retail Park is situated a short distance north off Glasgow Street where occupiers include Tesco, B&M Bargains, Homebase, Dunelm, Tesco. Immediate neighbouring occupiers also include CEF, Carpet Ways, Farmers Den Softplay, Tranquility Funeral Directors and the Palmerston Cafe.
Regular bus services operate on Glasgow Street whilst Dumfries Railway Station is a 15 minute walk east.
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Property Quote Price(s)
| Description | Sale type | Guide price | Price type |
| |
For Sale Freehold
|
£975,000.00
| NA |
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