The subjects comprise a retail showroom with workshop, storage and staff accommodation.
The main walls are of stone and brick construction with slate and flat/mineral felt roof coverings and suspended timber and solid floors.
The windows are a mix of timber casement and block glass units.
Finishes include suspended ceilings, plasterboard lined walls and ceilings and a mix of floor coverings.
There is a separate storage facility adjacent to the property providing additional stores. This is leased from a third party, but it should be possible for a buyer to retain this facility if required.
Location
Dundee is located on the east coast of Scotland approximately mid-way between Aberdeen (circa 105 kilometres (65miles) to the north) and Edinburgh (circa 96 kilometres (60 miles) to the south) overlooking the Tay Estuary and has a resident population of circa 150,000 persons and a catchment of some 500,000 persons (source: Dundee City Council).
Dundee is Scotland's fourth largest city and is the regional centre for employment, services and retailing within Tayside.
The property is located within the Albert Street District Centre which is one of the major District Centres of Dundee located about 1 mile north-east of the City Centre.
The subjects are positioned on the northern fringe of the District Centre facing the north-east arterial route enjoying a high-profile location at a busy junction.
Accommodation
Ground Floor – Retail Showroom, Workshop and Office - 133.39 sq m (1,436 sq ft)
First Floor – Stock and Staff Facilities - 58.45 sq m (629 sq ft)
Second Floor – Staff Kitchen and Storage - 27.45 sq m (295 sq ft)
Total - 219.29 sq m (2,360 sq ft)
The above areas have been calculated on a net floor area basis in accordance with the RICS Code of Measuring Practice (Sixth Edition).
The separate stores extend to 95.86 SqM (1,032 SqFt).
Terms
RATEABLE VALUE - The subjects have been assessed for rating purposes and are entered into the Valuation Roll at:
RV - £9,900
The Unified Business Rate for 2024/2025 is 49.8p for properties with a Rateable Value up to £51,000. Qualifying occupiers will be in a position to claim Small Business Rates Relief under current legislation.
EPC - To be confirmed.
BUSINESS - Nicholson Cycles is a long-established family-owned retail cycling business.
Entering its 75th year of trading the accounts of the business reflect a well-established profitable operation.
Financial information is available to genuinely interested parties.
ADVERTISING HOARDING - There is an advertising hoarding facing Forfar Road which generates a modest income.
The agreement currently operates on a year to year basis and prospective purchasers may wish to agree a longer term arrangement with the tenant.
SALE PRICE - The clients wish to arrange a sale of the property with the benefit of the ongoing business as an operational entity.
Offers of £225,000 are invited
VAT - VAT is not currently charged.
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 purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(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
- SITUATED WITHIN POPULAR DISTRICT CENTRE
- HIGH PROFILE LOCATION AT BUSY INTERSECTION
- RECOGNISABLE PROPERTY AND LONG-ESTABLISHED FAMILY BUSINESS
- FOR SALE AS AN OPERATIONAL ENTITY TO INCLUDE PROPERTY AND TRADING BUSINESS
- WELL ESTABLISHED PROFITABLE BUSINESS