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33-35 Reform St 924 SF Retail Condo Unit Offered at $311,535 CAD in Dundee DD1 1SH
INVESTMENT HIGHLIGHTS
- Nearby occupiers include McDonalds, Boots, Taco Bell, CUPP British Red Cross, Oxfam, Santander and Chisholm Hunter
- The city benefits from two universities and a large student population
- Reform Street benefits from good footfall and its close proximity to the Overgate Shopping Centre
EXECUTIVE SUMMARY
Dundee is situated on the Forth of Tay and is easily accessible via the A90 which connects the city to Edinburgh in the south and Aberdeen in the north. The city has recently undergone major redevelopment centred around the Victoria & Albert Design Museum which has significantly increased the number of visitors to the city. The city benefits from two universities and a large student population. The premises are situated on the east side of Reform Street in the block bounded by the High Street to the south and Bank Street to the north. Reform Street benefits from good footfall and its close proximity to the Overgate Shopping Centre. Nearby occupiers include McDonalds, Boots, Taco Bell, CUPP British Red Cross, Oxfam, Santander and Chisholm Hunter. The premises comprise a cafe unit arranged over the ground floor and basement of a three storey stone built tenement building under a pitched and slated roof.
PROPERTY FACTS
| Total Building Size | 2,304 SF | Floors | 4 |
| Property Type | Retail (Condo) | Typical Floor Size | 1,491 SF |
| Property Subtype | Storefront | Year Built | 1882 |
| Building Class | B | Lot Size | 0.04 AC |
| Total Building Size | 2,304 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront |
| Building Class | B |
| Floors | 4 |
| Typical Floor Size | 1,491 SF |
| Year Built | 1882 |
| Lot Size | 0.04 AC |
AMENITIES
- 24 Hour Access
- Security System
- Storage Space
1 UNIT AVAILABLE
Unit 35
| Unit Size | 924 SF | Sale Type | Investment |
| Price | $311,535 CAD | Tenure | Freehold |
| Price Per SF | $337.16 CAD | Cap Rate | 11.72% |
| Condo Use | Retail | NOI | $36,511.94 CAD |
| Unit Size | 924 SF |
| Price | $311,535 CAD |
| Price Per SF | $337.16 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 11.72% |
| NOI | $36,511.94 CAD |
DESCRIPTION
Internally the ground floor comprises a front customer seating area, serving
counter and prep kitchen at the rear. There is also an accessible W.C. An internal staircase leads to the basement which provides storage space and additional W.C.
SALE NOTES
The property is let to Little Things Café Limited on a FRI lease subject to a photographic schedule of condition expiring 17th April 2029. There is an outstanding rent review date 17 April 2024 and no further breaks until lease expiry.
The passing rent is £20,000 per annum exclusive reflecting a Zone A rate of £39.92 per sq ft.
Instructed to seek offers in excess of £167,500 (ONE HUNDRED AND SIXTY SEVEN THOUSAND FIVE HUNDRED POUNDS) for our client's heritable interest subject to and with the benefit of the existing lease.
NEARBY MAJOR RETAILERS
Presented by
33-35 Reform St
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