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Lot 302b

Guide Price: £86,000 - Bid Now

120-122 Albert Street, Dundee, DD4 6QN


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Key Features:

Substantial Retail Premises**Formerly 2 Shops (Could be Split if required)** Commercial Investment let on a fresh 10 year Lease (March 2019) ***Total Internal Area Circa: 820 sq ft ***Secure Income


  • Prominent Position on a Key arterial route. undee has 2 Universities & a population of circa 160,000 people- The 4th Largest city in Scotland & is on the main route linking Aberdeen with both Glasgow.
  • 130-132 Albert Street Sold £120k (March 2018)**163 Albert Street Sold £120k (March 2018)**5 Albert Street Sold £150k***Popular affordable commercial location***All the units on this parade are let**
  • Dundee is currently undergoing a massive***£1 Billion Pounds*** redevelopment & regeneration programme---This City is considered a property Hot Spot by many professional property investors***
  • Dundee plays host to The Victoria & Albert Museum. Major International Chains are opening hotels in Dundee City Centre*** High Yielding Investment Opportunity *** Expectations of Capital Growth***


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.
Rateable Value

Search Council Records

- Click the above link to search the latest records for this post code. The Scottish Assessors Portal provides Council Tax and Rates for all properties in Scotland.

Tenancy Details:


Type of Agreement Full Repairing & Insuring (FRI)
Length 10 Years
Rent £7,500 per year / £625 per month
Yield 8.7% (at guide price)
Tenant Private Individual
Notes: The property has just been let on a brand new 10 YEAR COMMERCIAL LEASE***Rent is £7,500 per annum***

Full Details:

^^^ Great Opportunity^^^ Property Hot Spot . ***Exceptional opportunity to acquire an affordable commercial investment in in a Key & Highly sought after location within Central Dundee. ***Prominent & High Footfall Location***The property has just been let on a brand new 10 YEAR COMMERCIAL LEASE***Rent is £7,500 per annum***Secure Income***Internal Area Circa: 820Sq Ft***Internally Fully Modernised ***Dundee is considered by many property investors & speculators as a +++Property Hot Spot +++ with substantial possibly price growth due to the huge investment programme being rolled out across Dundee. Including: re-development of the Waterfront, New housing, Construction of museums, natural expansion of the City Centre.***Albert Street is an established retailing destination in Dundee and this property is close to Co-op food store, Banks, Boots the Chemist, Ladbrokes & a large number of known retailers*** Dundee offers promising investment opportunities and should be considered when looking for ****High Yielding Investment Property with exceptional capital growth prospects***Rare High Yielding Opportunity & Substantial Interest is Expected****

Guide Price: £86,000 - Bid Now


What is a Guide Price...

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. Unless specified all properties are subject to a Reserve (minimum acceptable price) which we expect will be set no more than 10% above or below the advertised guide.

Bid Now Explained...

You may submit an offer now on this property for the owner 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.

Map & Location:


Albert Street is a busy arterial route leading from Dundee city centre to the north of the city. This is a mixed residential and commercial area, densely populated with tenement style properties predominating and with a good mix of commercial units serving the local neighbourhood. The city of Dundee is the fourth largest city in Scotland, with a resident population of approximately 150,000 and a regional catchment population estimated at 330,000.

Viewings:


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.

Auction Details:



  • Auction Date...

    02 May 2019


  • Start Time...

    7.00pm


  • Auction Location...

  • Edinburgh Marriott Hotel

  • 111 Glasgow Road, EH12 8NF


Directions...

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.

How To Bid:


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