71/75 High Street Dumfries Dumfries & Galloway DG1 2BN

71/75 High Street
Dumfries
Dumfries & Galloway
DG1 2BN

Freehold Retail Investment

Let to Thorntons Plc & Semichem Ltd (a subsidiary of Scottish Midland Co-Operative Society)
Prime pedestrianised retail pitch next to Marks & Spencer
Nearby occupiers include Waterstones, EE Phones, Specsavers, Boots the Chemist and Halifax Bank of Scotland
Six Week Completion

Lot
23
Auction
13th February 2014
Rent
£57,750 per Annum Exclusive
Status
Sold
Price
£435,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On the instruction of Cushman & Wakefield Investors

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Freehold Retail Investment

Let to Thorntons Plc & Semichem Ltd (a subsidiary of Scottish Midland Co-Operative Society)
Prime pedestrianised retail pitch next to Marks & Spencer
Nearby occupiers include Waterstones, EE Phones, Specsavers, Boots the Chemist and Halifax Bank of Scotland
Six Week Completion

Lot 23
Auction 13th February 2014
Rent £57,750 per Annum Exclusive
Status Sold
Price £435,000
Sector
High Street Retail
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On the instruction of Cushman & Wakefield Investors

Property Information

Location

Miles: 34 miles west of Carlisle, 77 miles south of Glasgow
Roads: M74 (junction 17 and 18 ) A75, A709
Rail: Dumfries 0.4 miles
Air: Carlisle Airport 37 miles

Situation

The property is situated in a prime retail pitch on the west side of the High Street opposite English Street, adjacent to Marks & Spencer and close to the entrance to the Loreburne Shopping Centre.

Tenure

Heritable.

Location

Miles: 34 miles west of Carlisle, 77 miles south of Glasgow
Roads: M74 (junction 17 and 18 ) A75, A709
Rail: Dumfries 0.4 miles
Air: Carlisle Airport 37 miles

Situation

The property is situated in a prime retail pitch on the west side of the High Street opposite English Street, adjacent to Marks & Spencer and close to the entrance to the Loreburne Shopping Centre.

Tenure

Heritable.

Description

The property comprises a pair of traditional retail units; the larger semichem unit having the greatest shop depth and wrapping around the rear of the Thorntons unit. There is retail accommodation to the ground floors with storage and ancillary space to the first floor. The top two floors are disused and have no fixed access.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversions
71 High Street	Ground	Retail	33.17 sq m	(357 sq ft)	THORNTONS PLC (1)	10 years from 25/06/2006	£22,750	24/06/2016
73/75 High Street	Ground First Second Third	Retail Ancillary Disused Disused	118.45 sq m 61.59 sq m	(1,275 sq ft) (663 sq ft)	SEMICHEM LIMITED (2) (a subsidiary of Scottish Midland Co-Operative Society)	5 years from 11/03/2013 (3)	£35,000	10/03/2018
Totals			213.21 sq m	(2,295 sq ft)			£57,750

(1) For the year ending 29th June 2013, Thorntons plc reported a turnover of £221,052,000, pre-tax profits of £5,170,000 and a total net worth of £14,886,000. (Source: www.riskdisk.com 17/01/2014)
(2)Semichem’s ultimate holding company is the Scottish Midland Co-Operative Society. For the year ending 26th January 2013, Scottish Midland Co-Operative Society reported a turnover of £377,891, pre-tax profits of £1,201,000 and a total net worth of £63,985,000. (Source: www.riskdisk.com 17/01/2014)
(3)There is a tenant’s option to determine the lease at the expiry of the third year.