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Lot 70

Guide Price: £61,000 - Bid Now

7B St Andrews Street, Dumfries, DG1 1BS


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Key Features:

VAT FREE INVESTMENT PURCHASE. Retail investment opportunity that is currently achieving a annual rental of £6,500 per annum. Sure to appeal to landlords looking for an attractive yield.


  • Property extends to 450 sq ft ( 41.8 sqm) internally. The rateable value is £5,340 which means it qualifies for the small business rates relief scheme.
  • Currently undergoing new fit out from tenant and the FRI lease is held in the personal name of the tenant. Currently undergoing change of use to Hot Food Takeaway.
  • Excellent Location. Town Centre location with high footfall and good frontage. Close by retailers include Barnardos, Oxfam and Nationwide.
  • Dumfries is the principal shopping and administrative centre in the Dumfries and Galloway region of southwest Scotland, with a population of around 37,500.


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 5 years
Rent £6,500 per year / £542 per month
Yield 10.7% (at guide price)
Tenant Private Individual
Notes: Lease signed March 2019 and is held in a personal name. Landlord holds £600 deposit from the tenant.

Full Details:

VAT FREE INVESTMENT PURCHASE. Retail investment opportunity that is currently achieving a annual rental of £6,500 per annum. Sure to appeal to landlords looking for an attractive yield. Large ground floor retail unit consisting internally of a open plan café are with a deli counter. To the rear of the property there is a storage area, W/C and a preparation area. Currently undergoing new fit out from tenant and the FRI lease is held in the personal name of the tenant. Currently undergoing change of use to Hot Food Takeaway. Property extends to 450 sq ft ( 41.8 sqm) internally. The rateable value is £5,340 which means it qualifies for the small business rates relief scheme. Affordable Investment on a 5 year FRI lease. Property should attract a variety of investors to the table looking for an attractive investment opportunity that is producing a great yield.

Guide Price: £61,000 - 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:


Dumfries is the principal shopping and administrative centre in the Dumfries and Galloway region of southwest Scotland, with a population of around 37,500. The town lies approximately 75 miles south of Glasgow, 34 miles northwest of Carlisle and is bypassed by the A75 trunk road. The town’s retail catchment includes other nearby towns and villages, together with the surrounding rural hinterland.

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...

    30 July 2019


  • Start Time...

    7.00pm


  • Auction Location...

  • Glasgow Radisson Hotel

  • 301 Argyle Street, G2 8DL


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