Let to Debenhams Properties Limited until 3rd January 2037
Prominent location on pedestrianised High Street
Neighbouring occupiers include H Samuel, WH Smith, Superdrug and the main banks
Reserve not to exceed £2,500,000 (14% GIY)
Lot 45
Auction 11th July 2018
Rent £350,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
34 miles west of Carlisle
77 miles south of Glasgow
Roads
A75, A709, M74 (Junctions 17 and 18)
Rail
Dumfries Railway Station
Air
Glasgow Airport
Situation
Dumfries is the main commercial centre for the South West of Scotland and the Dumfries and Galloway area. The historic market town is situated on the Rive Nith, close to the Solway Firth. Dumfries has a primary catchment area of approximately 121,000. The property is situated on the western side of High Street, close to its junction with Church Place and Friars Vennel, in the heart of the town centre. Nearby occupiers include Iceland, Boots the Chemist and JD Wetherspoon, with WH Smith, Superdrug and Starbucks also represented.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
34 miles west of Carlisle
77 miles south of Glasgow
Roads
A75, A709, M74 (Junctions 17 and 18)
Rail
Dumfries Railway Station
Air
Glasgow Airport
Situation
Dumfries is the main commercial centre for the South West of Scotland and the Dumfries and Galloway area. The historic market town is situated on the Rive Nith, close to the Solway Firth. Dumfries has a primary catchment area of approximately 121,000. The property is situated on the western side of High Street, close to its junction with Church Place and Friars Vennel, in the heart of the town centre. Nearby occupiers include Iceland, Boots the Chemist and JD Wetherspoon, with WH Smith, Superdrug and Starbucks also represented.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The property comprises a purpose built modern department store built in the early 1980s. The department store is arranged over ground, basement, first and second floors with the ground and first floors accommodating the retail sales and the basement and second floors providing staff and storage accommodation. The retail accommodation has been fitted out in Debenhams corporate style with a customer escalator to the front of the store providing access to the first floor. The property benefits from a prominent frontage onto High Street and rear servicing from Irish Street.
VAT
VAT is applicable to this lot.
Viewings
Please contact Mhairi Jarvis on +44 (0)131 552 5191.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a purpose built modern department store built in the early 1980s. The department store is arranged over ground, basement, first and second floors with the ground and first floors accommodating the retail sales and the basement and second floors providing staff and storage accommodation. The retail accommodation has been fitted out in Debenhams corporate style with a customer escalator to the front of the store providing access to the first floor. The property benefits from a prominent frontage onto High Street and rear servicing from Irish Street.
VAT
VAT is applicable to this lot.
Viewings
Please contact Mhairi Jarvis on +44 (0)131 552 5191.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
25 years to 03/01/2037 on a full repairing and insuring lease
£350,000
28/11/2021 and five yearly
Total
4,249.8 sq m
(45,745 sq ft)
£350,000
(1) Debenhams is the second largest department store group in the United Kingdom. Founded in the eighteenth century as a single store in London, Debenhams now operates from over 240 store visit www.debenhams.com. For the yea £147,663,000, pre-tax profits of -£9,695,000 and a total net worth of £47,747,000 (Source: Experian Group 14/06/2018). (2) Floor areas have been measured to GIA