The subjects comprise a mid-terraced office property occupied by Search Recruitment contained within a terraced parade of similar units. The main walls are of brick construction with pitched slate roof over, forming part of a ‘B’ listed former railway shed . Internally the accommodation comprises open plan office space with private partitioned offices, kitchen and toilet facilities. There is both front and rear access into the property.
Location
Dundee is located on the east coast of Scotland approximately mid-way between Aberdeen (circa 105 kilometres (65 miles) 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 city has its own airport with daily flights to London (London City) and sits on the main east coast railway line which runs services into London (Kings Cross).
Accommodation
Office 133 sq m (1,432sq ft )
Terms
RATEABLE VALUE £14,500
COVENANT/LEASE Search Consultancy are a recruitment agency incorporated in July 1987. They have occupied the premises since 2010 and extended the lease 1 st October 2020 until 15th September 2030 with tenant only break option on 15th September 2025. The annual rent is £18,000 which is subject to review 15th September 2025.
EPC Available upon request.
TERMS Our client is offering the premises for sale subject to the existing occupational lease at £220,000. This reflects a net initial yield of 8%.
VAT Prices are quoted exclusive of VAT.
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
- EXCELLENT INVESTMENT OPPORTUNITY IN POPULAR MIXED RESIDENTIAL/ COMMERCIAL LOCATION.
- LET TO SEARCH CONSULTANCY LIMITED , UNTIL 15 SEPT 2030, AT £18,000 PER ANNUM.
- TENANT IN OCCUPATION SINCE 2010
- PRICE - £220,000
- NET INITIAL YIELD OF 8%