24-26 Murraygate Dundee DD1 2AZ

24-26 Murraygate
Dundee
DD1 2AZ

Heritable Retail Investment

Prominent position on the pedestrianised Murraygate
Well let to Mountain Warehouse Ltd and Sportswift Ltd
Neighbouring occupiers include Marks & Spencer, Deichmann and British Heart Foundation
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
37
Auction
25th May 2017
Rent
£110,000 per Annum Exclusive
Status
Sold
Price
£980,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of Aviva

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Heritable Retail Investment

Prominent position on the pedestrianised Murraygate
Well let to Mountain Warehouse Ltd and Sportswift Ltd
Neighbouring occupiers include Marks & Spencer, Deichmann and British Heart Foundation
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 37
Auction 25th May 2017
Rent £110,000 per Annum Exclusive
Status Sold
Price £980,000
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of Aviva

Property Information

Location

Miles: 23 miles east of Perth, 55 miles north of Edinburgh
Roads: A85, A90, A92, M90
Rail: Dundee Railway Station
Air: Dundee Airport

Situation

The property is located within the prime pedestrianised section of Murraygate, close to
Marks & Spencer. Other occupiers located nearby include British Heart Foundation, Deichmann and Burton. Murraygate runs between the High Street and the Wellgate Shopping Centre and is the main retailing pitch in Dundee city centre.

Tenure

Heritable. (Scottish Equivalent of English Freehold).

Location

Miles: 23 miles east of Perth, 55 miles north of Edinburgh
Roads: A85, A90, A92, M90
Rail: Dundee Railway Station
Air: Dundee Airport

Situation

Tenure

Heritable. (Scottish Equivalent of English Freehold).

Description

The property comprises retail and ancillary accommodation over ground and first floors. This self-contained building forms part of a larger traditional tenement building.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises retail and ancillary accommodation over ground and first floors. This self-contained building forms part of a larger traditional tenement building.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
24	Ground First	Retail Ancillary/Storage	239.69 sq m 378.30 sq m	(2,580 sq ft) (4,072 sq ft)	MOUNTAIN WAREHOUSE LIMITED (1)	5 years from 13/06/2016	£50,000	12/06/2021
26	Ground	Retail	256.22 sq m	(2,758 sq ft)	SPORTSWIFT LIMITED t/a Card Factory (2)	15 years from 23/06/2008	£60,000	22/06/2023
Totals			874.21 sq m	(9,410 sq ft)			£110,000

(1) For the year ending 28th February 2016, Mountain Warehouse Limited reported a turnover of £141,403,000, pre-tax profits of £16,246,000 and a total net worth of £49,311,000 (Source: Experian Group 25/04/2017).
(2) For the year ending 31st January 2016, Sportswift Limited reported a turnover of £362,226,000, pre-tax profits of £92,210,000 and a total net worth of £80,967,000 (Source: Experian Group 25/04/2017). Opened in 1997, Card Factory is a leading specialist retailer in the UK greetings card market and operate from over 850 stores across the UK (Source: www.cardfactory.co.uk 25/04/2017).