Lot 3q

Guide Price: £750,000 - Bid Now

1a High Street , Dundee, DD1 1SX


Key Features:

PRIME DUNDEE TOWN CENTRE 4,400 square feet Class 3 RESTAURANT CURRENTLY LET TO K.F.C at £125,000 P/A on an FULL FRI Lease SUPER FIT OUT (lease till 2022 tenant break option 29th July 2018) SUPER RE-LETTING POTENTIAL facing ZARA, H & M, Pat Valerie along from RBS, Clydesdale, 2 SHOPPING CENTRES


  • ***CORNER SITE BENEFITS FROM FULL CLASS 3 RESTAURANT + TAKE-AWAY CONSENT THEREFORE WILL APPEAL TO OWNER OCCUPIERS AND A HOST OF NATIONAL TENANTS.*** 4,000 SQ FEET MODERN FULL FIT-OUT Ground Floor 3,638 sq ft 337.98 sq m. Basement 759 sq ft 70.50 sq m. (toilets)
  • The original lease to KFC was from 29th July 2002 to 28th July 2022 with a starting rent of £96,500 p.a rising to current rent £125,000 per annum. Tenant had a break 29/7/2018 therefore vacating then. LISTED BUILDING THEREFORE 100% RATES FREE when vacant. ***IDEAL INVESTMENT / RENTAL POTENTIAL FULL FRI LEASE.***
  • Tenant - Kentucky Fried Chicken GB Limited (recent accounts) NET WORTH of £127.7 MILLION. Total Assets £158.6M. Cash at Bank £102.1M. 1A HIGH STREET is a 100% PRIME LOCATION close to Murraygate and the Overgate Shopping Centre. Nearby Greggs, H&M, Zara, Costa Coffee and Barrhead Travel.
  • NEW ENTRY - Prime Dundee Town Centre

Description:

NEW ENTRY. ***THIS PROPERTY WAS SOLD FOR £1,150,000 - 2003 15 years ago.***Super spot. PRIME INVESTMENT OPPORTUNITY currently with KFC on FULL REPAIRING AND INSURING LEASE as a tenant £125,000 per annum tenant break July 2018 exercised therefore reletting or owner occupation potential. ***CORNER SITE BENEFITS FROM FULL CLASS 3 RESTAURANT + TAKE-AWAY CONSENT THEREFORE WILL APPEAL TO OWNER OCCUPIERS AND A HOST OF NATIONAL TENANTS.*** 4,000 SQ FEET FULLY FITTED Super fit out. Ground Floor 3,638 sq ft 337.98 sq m. Basement 759 sq ft 70.50 sq m. Tenant Kentucky Fried Chicken GB Limited (most recent accounts) NET WORTH of £127.7 MILLION. Total Current Assets £158.6 MILLION. Cash at Bank £102.1 MILLION. 1A HIGH STREET is a 100% PRIME LOCATION close to Murraygate and the Overgate Shopping Centre. Nearby occupiers Greggs, H&M, Zara, Size?, Pandora, Optical Express, Costa Coffee and Barrhead Travel. The original lease to KFC was from 29th July 2002 to 28th July 2022 with a starting rent of £96,500 p.a rising to current rent £125,000 per annum. Tenant had a break 29/7/2018 therefore vacating then. LISTED BUILDING THEREFORE 100% RATES FREE when vacant. ***IDEAL INVESTMENT / RENTAL POTENTIAL FULL FRI LEASE.*** SUPER FIT OUT (lease till 2022 tenant break option 29th July 2018) SUPER RE-LETTING POTENTIAL facing ZARA, H & M, Pat Valerie along from RBS, Clydesdale Bank, 2 SHOPPING CENTREs. ALSO A PROMINENT CORNER location looking onto Commercial Street and Seagate where there are a number of bars and restaurants. IDEAL INVESTMENT PROPERTY BENEFIT OF LISTED BUILDING THEREFORE 0 RATES PAYABLE WHILSY VACANT. Ideal investment property.

Location:


100% PRIME SPOT circa 4000 sq feet over ground and basement. The premises are located within the prime section of High Street close to Murraygate and the Overgate Shopping Centre. Nearby occupiers include Greggs, H&M, Zara, Size?, Pandora, Optical Express, Costa Coffee and Barrhead Travel. The premises also benefit from a prominent corner location looking onto Commercial Street and Seagate where there are a number of bars and restaurants. Dundee is currently undergoing a £1 Billion waterfront redevelopment with the impending opening of the £45 Million V&A Museum due to open in 2018, leading the regeneration.

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

Vacant

- Full vacant possession offered at time of completion.

Guide Price: £750,000 - 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:

    31 July 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.