Page 20 - Shepherd Commercial Auction June 2022

Lot 21
109 Queensberry Street, Dumfries DG1 1BH
Features:
• Opposite Public Car Park • Town Centre Location
• Category B listed building • Not VAT elected
• Average combined rent: £21,000 per annum
Description:
The property comprises a substantial three storey, basement and attic floor mid-terraced retail premises, currently sub-divided to create two separate units. The building is category B listed with traditional sandstone walls under a pitched and slated roof. The ground floor benefits from an attractive double sales frontage with large display windows. The main retail space extends over the ground, first and second floors, whilst the basement and attic floors are currently used for storage. Both units are self-contained with dedicated entrance doors and private welfare facilities. The property is well suited to a variety of commercial uses with scope for future residential conversion of the upper floors, subject to Local Authority consents.
Accommodation:
Left hand side unit (Ground Floor): 142.28 sqm 1,532 sq ft
Right hand side unit (Floors B, G, F, S and A): 549.72 sqm 5,917 sq ft Total: 692 sqm 7,449 sq ft
Location:
Dumfries, with a population of around 37,500 is the largest town in Dumfries and Galloway as is therefore South West Scotland’s main shopping and administrative centre. The town lies approximately 75 miles south of Glasgow and 34 miles north west of Carlisle, occupying a strategic location at the intersection of the A75, A76 and A701 trunk roads. The subjects occupy a central position on the western side of Queensberry Street, opposite the Loreburn Street public car park, around 50 yards from the pedestrianised High Street. The Burns Statue bus stance and Munches Street taxi rank are also within short walking distance.
*Guide Price £155,000+ (plus fees)
20 | *Please see Buyer’s Terms for definition of guide price and auction fees
Lease Terms and Passing Rent: The left-hand unit is let from 30/09/20 to 29/09/25. The passing rent is £10,200 p.a. stepping up to £10,800 p.a. in 2022, £11,400 p.a. in 2023 and £12,000 p.a. in 2024. The right-hand unit is let from 01/12/19 to 30/11/29, with a tenant only break option at 01/12/24. The passing rent is £9,000 p.a. with an uplift to £10,000 p.a. in 2023. The average combined passing rent for the remaining lease term, up to lease expiry dates, is circa £21,000 p.a. The units are let on a standard commercial lease basis
although the landlord is liable for some external repairs. The left-hand ground floor unit is let to a private individual, trading as The VRrOOM. The right-hand basement, ground, first, second and attic floor unit is also let to a private individual, trading as Vintage 109.
Energy Efficiency Rating: D Tenure: See Legal Pack
Viewing: Viewings by arrangement with Shepherd Commercial Property Auctions -Tel: 01387 264 333 Email: f.carson@shepherd.co.uk
Auction Type: Unconditional Sale. Please note the buyers fee on this lot is 2.5% plus VAT (3% including VAT) subject to a minimum of £2,625 plus VAT (£5,250 including VAT).
Closing date for next Auction: 7th May 2020 - Entries Invited