RETAIL INVESTMENT

For Sale

 

  • NEW 5 YEAR FRI LEASE
  • £9,540 PER ANNUM
  • OFFERS OVER £72,500
  • RPI RENT REVIEWS
  • 13.2% INITIAL YIELD
  • PROMINENT RETAIL PITCH IN TOWN CENTRE
  • GOOD LEVELS OF PARKING
  • REAR LOADING AND PRIVATE PARKING SPACE
  • QUALIFIES FOR 100% RATES RELIEF

LOCATION

Arbroath is a former royal burgh and the largest town in the council area of Angus in Scotland, and has a population of 23,902. It lies on the North Sea coast, around 16 miles North East of Dundee and 45 miles South West of Aberdeen.

The A92 road connects Arbroath to Dundee and Fife to the south west, and Stonehaven in the north east. The A92 joins the A90 north of Stonehaven and leads to Aberdeen further north. The A92 is dual carriageway from the southern outskirts of Arbroath to the northern outskirts of Dundee, the A92 proceeds through Dundee before crossing the Tay estuary into Fife via the Tay Road Bridge. The A90 can also be reached at Dundee heading both north (to Aberdeen) and south (to Perth and Edinburgh).

The subjects are located on the western side of High Street at its junction with Ponderlaw Street and at the end of the pedestrianized area allowing for better vehicular access. High Street forms a prime retail pitch within Arbroath.

DESCRIPTION

The subjects comprise a ground floor mid terraced retail property within a parade of similar shops. The property has been extended to the rear with a two storey building with private car parking space and loading area.

Internally, the subjects provide retail area, office and back shop at ground floor with the first floor providing kitchen area and w.c.

The property has just been decorated and a new suspended ceiling with LED lighting added.

FLOOR AREAS

From sizes provided by our client, we understand that the subject property, measured in accordance with the RICS Property Measurement Professional Statement (First Edition, May 2015) incorporating the International Property Measurement Standards and the RICS Code of Measuring Practice to extend to the following approximate gross internal area (GIA):

103m2/1,110 sq ft

PROPOSAL

Offers over £72,500 are sought.

RATING

The subjects qualify for 100% rates relief for 2017/2018.

The Rateable Value of the property is £12,100

Please contact local rating office for further information

PLANNING

All queries in relation to planning permission and use class of the subjects should be addressed to Angus Council Planning Department.

CLOSING DATE

A closing date may be set and all interested parties should make a note of interest at the offices of the Sole Agent.  We reserve the right to sell or let the property without setting a closing date and we are not obliged to accept the highest or indeed any offer for the sale or lease of the property.

VAT

N/A

EPC

G

PUBLICATION DATE 02/05/2018

Price:Offers over £72,500
Address:140 High Street
City:Arbroath
Postcode:DD11 1HN
Floors:2
Square Feet:1,110
Parking:On Street
Property Type:Retail Investment

Location Map