Lochside Court comprises of 8 self-contained, modern industrial and trade counter terraced units with full height delivery access doors on all units, allocated car parking provisions and landscaped areas along the front and side elevations.
Lochside Court comprises of eight units in total in the form of two large units along the northern terrace whilst the remaining units are all relatively small in nature and situated along the southern terrace. The properties are of steel portal frame construction with profile sheet metal cladding and brick infills. The pitched roofs are also covered by profile sheet metal cladding, whilst the northern terrace has the benefit of additional incorporated translucent roof lights. Vehicle and delivery access is provided by way of electronic doors, whilst internally the units have painted concrete floors and provide warehouse, office and staff accommodation to varying ratios within each unit.
Location
Dumfries is the largest town in Dumfries & Galloway region with a resident population of circa 38,000. Dumfries is southwest Scotland’s main shopping and administrative centre with the town lying on the southwest of Scotland and approximately 75 miles south of Glasgow and 35 miles northwest of Carlisle, occupying a strategic location at the intersection of the major A7 trunk roads.
The A709 provides a direct link to the motorway at Lockerbie (A74), whilst the A709 Edinburgh Road provides further eastern access through Heatherhall and Locharbriggs. Dumfries attracts copious trade from nearby towns and villages such as Gretna Green, Castle Douglas, Shawhead and Carlisle, together with a strong rural offering.
The subjects are situated within Lochside Court, which forms part of the well-established Lochside Industrial estate located off Irongray Road. This location is set back from the A76 trunk road, which provides excellent links to the national road network of both Scotland and England. Lochside Industrial Estate boasts a strong mix of local, regional and national businesses including SEPA, Rosefield Salvage, Murray Farm Care, Clark Tracks and Borders Civils and Utilities Ltd.
Accommodation
Unit 1 - Euro Car Parts Ltd - 8,793 sq ft - Rent - £25,00 per annum - Rates - £2.84 per sq ft
Unit 2 - James G Findlay Ltd - 4,860 sq ft - Rent - £15,000 per annum - Rates - £3.09 per sq ft
Unit 3 - Brown's Pressure Washers Ltd - 1,640 sq ft - Rent - £8,500 per annum - Rates - £5.18 per sq ft
Unit 4 - BPW Properties Ltd - 1,600 sq ft - Rent - £8,228 per annum - Rates - £5.14 per sq ft
Unit 5 - Under Offer - 1,600 sq ft
Unit 6 - T Clarke PLC - 1,600 sq ft - Rent - £8,000 per annum - Rates - £5.00 per sq ft
Unit 7 - Aviagen UK Ltd - 1,582 sq ft - Rent - £8,500 per annum - Rates - £5.37 per sq ft
Unit 8 - Dumfries Tool Room Ltd - 1,705 sq ft - Rent - £8,500 per annum - Rates - £4.99 per sq ft
TOTAL - 23,380 sq ft
Terms
Service Charge - There is currently a service charge budget in place that is fully recoverable from the tenants with no landlord shortfall. Further information can be made available to interested parties.
Proposal - Offers in excess of £900,000 reflecting a net initial yield of 8.63% and a reversionary yield of 10.49%, after allowing for standard purchaser’s costs at the prevailing rates.
VAT - VAT has been elected and therefore it is anticipated that the sale will be treated as a transfer of a going concern.
Specification
- Modern, multi-let industrial estate
- Mix of local and national covenants
- Passing rent £81,728 per annum
- ERV £99,317 per annum
- Offers in excess of £900,000 (reflecting a 8.63% net initial yield and 10.49% reversionary yield)