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Description

• Status: Available
• Type: Commercial

• Ownership: Freehold
• Occupation: Tenanted

• Rateable Value: Search

869.89 sq m (9,363 sq ft) LET FACTORY SHOP INVESTMENT in prime high street location. Current Rent Reserved £30,000 p.a. VAT is applicable. Entirely let to The Factory Shop on a new 10 year lease

Occupiers close by include Co-op Food, Bank of Scotland, Post Office and Boots Pharmacy

The property is situated on the south side of King Street, between its junctions with Academy Street & Church Street

The town of Castle Douglas is located in South-West Scotland at the northern end of Carlingwark Loch, some 9 miles north of Kirkcudbright and 18 miles south-west of Dumfries.

Ground Floor 239.13 sq m 2,574 sq ft. First Floor 630.76 sq m 6,789 sq ft. Total 869.89 sq m 9,363 sq ft.

TENANT INFO - The Factory Shop Limited - For the year ending 27th March 2022 The Factory Shop Limited reported a turnover of £124,409,000, pre-tax profit of £1,460,000, shareholders funds and a net worth of £14,351,000 (Source: Experian 04.10.2023) N.B. Not measured by Allsop. Floor areas sourced by the Valuation Report. Rent Review 2028

The town of Castle Douglas is located in South-West Scotland at the northern end of Carlingwark Loch, some 9 miles north of Kirkcudbright and 18 miles south-west of Dumfries. The town is served by the A75 providing access to the A74(M). The property is situated on the south side of King Street, between its junctions with Academy Street & Church Street Occupiers close by include Co-op Food, Bank of Scotland, Wilkies, Scotmid and Boots Pharmacy amongst some other local traders

Full Address: 127-129 King Street, Factory Shop Investment, Castle Douglas, DG7 1LZ

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 10 Years
Rent: £30,000 per year / £2,500 per month
Yield: 14% (approx)
Tenant: Company
Notes: 10 years from 24.08.2023 (1)Tenant Break option and Rent review at the 5th anniversary FR& I

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Pricing Information & Bidding

Opening Bid: £221,000

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SPECIAL Terms of Sale

• 10% Deposit
• Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
• 4 Weeks Completion or Longer By Agreement
• Contribution to Sellers Costs £1,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Buy Now Price = £259,000

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Auction Details

Date & Time: 16 May 2024, 10am-3pm
Type: Timed Online Auction

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