Page 51 - Shepherd Commercial Auctions - Catalogue 07/12/2023

Lot 40 198 King Street, Castle Douglas, Dumfries and Galloway DG7 1DB Retail Investment
Features
• Set within popular tourist town
• New lease to 9th November 2028
• Passing rent £7,800 per annum
• Rent increase to £8,500 per annum in 2026
Description
The subjects comprise a ground floor unit, forming part of a larger Category C listed two- storey property.
The unit is of traditional stone construction under a pitched and slate clad roof, with stone / brick rear extension surmounted by a flat roof.
The property features a traditional sales frontage with large display window, recessed entrance door, retractable awning and full-width fascia signage.
Accommodation
The internal accommodation extends to the following - Front Sales Area, Office, Stockroom, Toilet, Store
The property extends to the footprint of the building, however, we are verbally advised that the subjects benefit from shared use of the rear car park, which is accessed via a pend off King Street.
Location
CASTLE DOUGLAS, with a population of circa 4,000, is the main administrative town serving the Stewartry district of Dumfries & Galloway. The town is a popular boutique shopping destination, attracting good levels of tourist trade, and is also the main market town for the surrounding rural areas.
The town is bypassed by the A75 trunk road and is located at its junction with the A713. The A75 connects the A74(M) / M6 motorways at Gretna to Stranraer and the Cairnryan ferry ports. The regional capital of Dumfries lies approximately 18 miles to the east.
The property fronts King Street, which serves as the core town centre thoroughfare, and occupies a good pitch within the main retailing area.
On-street parking is available in the immediate vicinity. There is also a large public car park within a reasonably short walking distance.
*Guide Price £74,000 (plus fees if applicable)
* Please see Buyer’s Terms for definition of guide price and auction fees
Energy Performance Rating The property has an energy rating of G.
Tenancy
The property is occupied by Stewartry Roller Shutters & Garage Doors Limited (SC762186).
The license to occupy commenced on 10.11.23 and terminates on 09.11.28, with a break option on 10.11.26 as well as an option to extend for a further five years.
The passing rent is £7,800 per annum, although that is set to rise to £8,500 per annum on 10.11.26. There is a rent-free period until 10.02.24 and a deposit held in the sum of £2,000..
Auction Type
Unconditional Sale - The buyers fee is 2.4% inc VAT(2% plus VAT) subject to a minimum of £2,500 inc VAT(£2,083.33 plus VAT).
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