Lot 1e

Guide Price: £147,500 - Bid Now

38-42 Academy St, Deja Vu, Dumfries, DG1 1BZ


Key Features:

***NEW ENTRY*** Unique CORNER SITE Investment LET AT £15,000 per annum (potential to increase to 22k pa with vacant shop unit) PROMINENT BUILDING with Public Bar (c 40 Covers 90 Capacity) + Large Beer Garden + 2 UPPER FLOORS with 6 letting Bedrooms. + DETACHED 2 STOREY REAR BUILDING (historically residential use) + VACANT SHOP on ACADEMY STREET (could be let separately)


  • POTENTIAL TO LET VACANT SHOP facing Dumfries Academy and generate overall rental of circa £22,000 per annum.Also potential to develop rear buildings were residential use. 'Déjà Vu occupies a prominent corner site on the A780 Academy Street with large return to the A701 Loreburn Street. Opposite is Dumfries Academy (600 plus pupils). ***IDEAL INVESTMENT OPPORTUNITY + DEVELOPMENT POTENTIAL***
  • Majority is let rental £15,000 PER ANNUM. The ground floor consists of a single public bar (c. 40 covers, c. 90 capacity) with customer toilets, linked to the rear side beer garden which faces Loreburn Street. The 2 upper floors provide 6 letting bedrooms in a variety of configurations (one triple, 3 doubles and 2 singles) plus 2 kitchens, toilets/bathrooms and shower room. SUPER CONDITION.
  • ***PRICE SLASHED FROM £225,000*** VACANT Shop COULD BE LET OR POTENTIAL FOR CHANGE OF USE TO TAKE-AWAY CONSENT - On the Academy Street front left side there is A SHOP UNIT commercial office/shop unit great spot facing the school would be an ideal sandwich bar and generate up to £7,000 per annum additional rent or alternative retail / office uses.
  • NEW ENTRY - Pub Portfolio Let £15k pa

Description:

***NEW ENTRY*** Large detached extended property in Dumfries town centre with high prominence to A780 and A701 trunk roads. Ground floor public bar with side beer garden. Two upper floors with 6 letting bedrooms and shared facilities. Includes shop on Academy Street and detached rear 2 storey building. CURRENTLY LET £15,000 PER ANNUM EXCLUDING SHOP ON ACADEMY STREET which could be let separately at circa £7,000 per annum and take overall rental to £22,000 per annum. Long term potential for redevelopment (subject to planning). Majority is let rental £15,000 PER ANNUM. A substantial corner positioned 3 storey building with side and rear extensions. The ground floor consists of a single public bar (c. 40 covers, c. 90 capacity) with customer toilets, linked to the rear side beer garden which faces Loreburn Street. The two upper floors provide 6 letting bedrooms in a variety of configurations (one triple, 3 doubles and 2 singles) plus 2 kitchens, toilets/bathrooms and shower room. SUPER CONDITION. To the side and rear is McConechy’s Tyre Services. A Council car park lies 50m away on Loreburn St. Also there is a detached rear 2 storey rendered building has a pitched roof and although previously in residential use is now not in regular use and requires refurbishment. ***IDEAL FOR DEVELOPMENT POTENTIAL.*** VACANT Shop COULD BE LET OR POTENTIAL FOR CHANGE OF USE TO TAKE-AWAY CONSENT - On the Academy Street front left side there is A SHOP UNIT commercial office/shop unit great spot facing the school would be an ideal sandwich bar and generate up to £7,000 per annum additional rent or alternative retail / office uses. The property has the benefit of a Premises Licence (number L.2/056N) to serve alcohol from the Nithsdale Division of the Dumfries & Galloway Licensing Board. ***PRICE SLASHED FROM £225,000*** ***IDEAL INVESTMENT OPPORTUNITY.***

Location:


PRIME SPOT corner building ripe for re-development in Dumfries, with a population of around 37,500 people, is the largest town in Dumfries and Galloway, and is south west Scotland’s main shopping and administrative centre. The town lies approximately 75 miles south of Glasgow and 34 miles north west of Carlisle and is bypassed by the A75 trunk road. Déjà Vu occupies a prominent corner site on the A780 Academy Street with large return to the A701 Loreburn Street. Opposite is Dumfries Academy (600 plus pupils) and to the side and rear is McConechy’s Tyre Services. A Council car park lies 50m away on Loreburn Street.

Rateable Value:


CLICK HERE to visit the Scottish Assessors Association Website & automatically search this property's postcode for values. The Scottish Assessors’ Portal provides details of Council Tax Bands and Rateable Values for all properties in Scotland.

Ownership & Occupation:


Ownership

Freehold

- Outright ownership of the property and land on which it stands.
Occupation

Tenanted

- Existing tenant in place with lease agreement to be assigned to the new purchaser at the time of completion.

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length
Rent £15,000 per year / £1,250 per month
Yield 10.2% (at guide price)
Tenant Private Individual
Notes:

Guide Price: £147,500 - Bid Now


Auction Guide Prices are displayed as an indication of each seller's approximate sale expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set no more than 10% above or below the advertised guide price.

Bid Now Explained:


You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.











Internal Open Viewings:


This property may be open for internal viewings at specified times which will be listed on this page when available. You do not need to register to attend these viewings, you can simply turn up as the property will be open during the scheduled times. Our viewing agent will be present to answer any of your questions and provide auction catalogues to viewers.

External Viewings Anytime:


You may view this property externally at any time. Please make sure that if the property is occupied or tenanted that you respect the privacy of the occupants. Additionally we advise that you print a copy of this schedule and take it with you in case of any neighbours questioning you at the property as to your intentions.


















Offer Now:

You may submit an offer now on any of our live properties for the sellers to consider. If they are will are willing to sell you the property now then it is a matter of making the 10% deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Bid Live in Person:

Easily the best method is to attend the auction in person. The Glasgow Radisson is conveniently located in the Glasgow City Centre, a short walk from the Central Train Station and easily accessed from the M8 Motorway. The Edinburgh Marriott Hotel is conveniently located just minutes from Edinburgh Airport and the city centre.

Bid by Phone Live:

If you cant make the auction in person you can still make a live bid by telephone for this property. You will give instruction live over the phone with one of our staff in the room who will bid on your behalf and relay activity in the auction room. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Telephone Bidders Form

Bid by Proxy: (Ebay Style Highest Bid)

This is another option if you cannot make the auction in person. A Proxy bid is where you will leave your highest maximum bid for the property and the auctioneer will bid on your behalf. You will only ever bid one increment higher than the previous bidder. Proxy bidding rules out any potential issues with telephone reception or nerves regarding bidding in person or by telephone. To register simply print off, complete and return the below form by email prior to 5pm of the auction day...

Proxy & Phone bidders phone... Download the Proxy Bidders Form







  • Auction Date:

    01 May 2018


  • Start Time:

    7.00pm


  • Auction Location:

  • Glasgow Radisson Hotel

  • 301 Argyle Street, G2 8DL


Directions:


View a Map & Directions to the Auction Venue.
Glasgow Radisson | Edinburgh Marriott


Registration:

You will need to be at the auction prior to the 7.00pm start time in order to register & make your way to the auction room. Bidding registration opens from 6:00pm. You will be required to present Photo ID and provide your contact and solicitor details in order to register.

Legal Packs:

All legal packs will be available for inspection at our offices on the day of the auction and at the auction hall from 6:00pm.

Deposits:

If you are a successful purchaser of a lot then a deposit of 10% (minimum £3,000 or lower if specified) will be required. The deposit is accepted by the following methods:

Deposit Method:

Switch, Debit Card, Credit Card, Cash or Bankers Draft accepted only. Next Day Bank Transfer by prior arrangement only.