Town Centre Location
Rates Exempt
419sq ft
Lease Held On Personal Name
Expiry 29th March 2024
Lease on Personal Name
Passing Rent: £5,XXX.a.
Price: £55,000
Location
The subjects are situated on the North side of St Andrews Street, East of its junction with Church Crescent located within Dumfries’ town centre. Dumfries is the largest town in Dumfries and Galloway with a resident population of c. 37,500 and is Southern Scotland’s main shopping and commerce centre approximately 75 miles south of Glasgow via the M74 motorway network and the A75 trunk road.
Neighbouring occupiers include Jan De Vries Health Care, Oxfam, The Venue, William Hill, Argos & Greggs.
Property
The property comprises a ground floor retail unit within a larger 3 storey traditional sandstone building surmounted by a pitched roof overlaid in slate. The upper stories contain residential dwellings accessed separately and are not included with the subjects.
The subjects benefit from traditional glazed frontage with access gained via a single doorway leading to an open plan sales area with partitioned office, tea prep & w.c. facilities to the rear.
NAV/RV
The subjects have been assessed and entered onto the valuation roll with the following rateable value:
£4,500
The subjects qualify for rates exemption under the small business rates relief scheme.
Area
The subjects have been measured on a Net Internal Area basis to extend to:
Ground: 37.99sqm (419sq ft)
Investment
The property is held on a full repairing and insuring head lease on the following terms:
Tenant: Personal Name t/a Willow Gallery
Rent: £5,XXX.a
Expiry: 29th March 2024 (Extended)
Price
The property is available on a freehold investment basis for £55,000
V.A.T.
The property has not been elected for V.A.T.
E.P.C.
Available on request
Legal
Each party shall bear their own legal costs incurred in the transaction
Viewing
Whilst it is a good idea to visit a trading business that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business.
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.