Co-Operative Food Store 93 Albert Street Dundee Scotland DD4 6PB

Co-Operative Food Store
93 Albert Street
Dundee
Scotland
DD4 6PB

Heritable (Scottish Equivalent to English Freehold) Foodstore Investment

Let to The Co-Operative Group Ltd for 15 years from completion
Tenant's option to extend the lease for a further 15 years
Five yearly rent reviews fixed at 2.5% per annum annually compounded
On-site parking
Prominently located on one of Dundee's main arterial routes
Surrounding occupiers include Lloyds Bank, Royal Bank of Scotland, Ladbrokes and Alliance Pharmacy

Lot
10
Auction
8th July 2010
Rent
£117,000 per Annum
Status
Sold Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Heritable (Scottish Equivalent to English Freehold) Foodstore Investment

Let to The Co-Operative Group Ltd for 15 years from completion
Tenant's option to extend the lease for a further 15 years
Five yearly rent reviews fixed at 2.5% per annum annually compounded
On-site parking
Prominently located on one of Dundee's main arterial routes
Surrounding occupiers include Lloyds Bank, Royal Bank of Scotland, Ladbrokes and Alliance Pharmacy

Lot 10
Auction 8th July 2010
Rent £117,000 per Annum
Status Sold Post
Price
Sector
Supermarket/Convenience
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Estimated Residential Population: 154,674
Miles: 0.8 miles north-east of Dundee city centre
Roads: A929, A90, A92
Rail: Dundee Rail Station
Air: Dundee Airport

Situation

The property is prominently located on Albert Street, an established retail thoroughfare and one of Dundee's main arterial routes. Surrounding occupiers include Lloyds Bank, Royal Bank of Scotland, Ladbrokes and Alliance Pharmacy.

Tenure

Heritable. (Scottish Equivalent to English Freehold)

Location

Estimated Residential Population: 154,674
Miles: 0.8 miles north-east of Dundee city centre
Roads: A929, A90, A92
Rail: Dundee Rail Station
Air: Dundee Airport

Situation

Tenure

Heritable. (Scottish Equivalent to English Freehold)

Description

The property comprises a PURPOSE BUILT FOOD STORE with GROUND FLOOR RETAIL ACCOMMODATION and ANCILLARY/ STORAGE ACCOMMODATION at first floor level. The property benefits from approximately 13 dedicated car parking spaces and a service yard to the rear. The store is to be rebranded as a Co-Operative.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First First	Retail Staff Office/Storage	983.27 sq m 110.34 sq m 289.90 sq m	(10,584 sq ft) (1,188 sq ft) (3,121 sq ft)	THE CO-OPERATIVE GROUP LTD (2)	15 years from completion on a new full repairing and insuring lease	£117,000 (1)	2015 and 5 yearly
Totals		1,383.51 sq m	(14,893 sq ft)			£117,000

(1)The rent is subject to fixed increases at 2.5% per annum compounded. (2)For the year ending 2nd January 2010, Co-Operative Group Limited reported gross sales of 13,673,800,000, pre-tax profits of 294,800,000 and total equity and liabilities of 75,124,800,000. (Source: www.co-operative.coop as at 07/06/2010) The Co-Operative Group, the UK's largest mutual retailer, has completed its 1.565bn acquisition of the Somerfield Supermarket chain. (Source: www.co-operative.coop 02/03/2009)