177-189 High Street
Dumfries
Dumfries and Galloway
DG1 2QT

Modern Heritable Department Store Investment

  • Modern and dominant store in Dumfries
  • Let to Debenhams Properties Limited until 3rd January 2037
  • Prominent location on pedestrianised High Street
  • Neighbouring occupiers include H Samuel, WH Smith, Superdrug and the main banks
  • Reserve not to exceed £2,500,000 (14% GIY)
  • Lot
    45
  • Auction
    11/Jul/2018
  • Rent
    £350,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £2,400,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 177-189 High Street<br>Dumfries<br>Dumfries and Galloway<br>DG1 2QT
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Property Information

Location
Miles
34 miles west of Carlisle
77 miles south of Glasgow
Roads
A75, A709, M74 (Junctions 17 and 18)
Rail
Dumfries Railway Station
Air
Glasgow Airport
Situation

Dumfries is the main commercial centre for the South West of Scotland and the Dumfries and Galloway area. The historic market town is situated on the Rive Nith, close to the Solway Firth. Dumfries has a primary catchment area of approximately 121,000. The property is situated on the western side of High Street, close to its junction with Church Place and Friars Vennel, in the heart of the town centre. Nearby occupiers include Iceland, Boots the Chemist and JD Wetherspoon, with WH Smith, Superdrug and Starbucks also represented.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property comprises a purpose built modern department store built in the early 1980s. The department store is arranged over ground, basement, first and second floors with the ground and first floors accommodating the retail sales and the basement and second floors providing staff and storage accommodation. The retail accommodation has been fitted out in Debenhams corporate style with a customer escalator to the front of the store providing access to the first floor. The property benefits from a prominent frontage onto High Street and rear servicing from Irish Street.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Jarvis on +44 (0)131 552 5191.

Completion Period

Six week completion

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x Reviews
Ground
First
Basement
Second
Retail
Retail
Staff/Storage
Staff/storage
1,346.4 sq m
1,346.4 sq m
734.9 sq m
822.1 sq m
(14,493 sq ft)
(14,493 sq ft)
(7,910 sq ft)
(8,849 sq ft)
DEBENHAMS
PROPERTIES
LIMITED (1)
25 years to
03/01/2037 on a
full repairing and
insuring lease
£350,000 28/11/2021
and five yearly
Total
4,249.8 sq m
(45,745 sq ft)  £350,000 

(1) Debenhams is the second largest department store group in the United Kingdom. Founded in the eighteenth century as a single store in London, Debenhams now operates from over 240 store visit www.debenhams.com. For the yea £147,663,000, pre-tax profits of -£9,695,000 and a total net worth of £47,747,000 (Source: Experian Group 14/06/2018).
(2) Floor areas have been measured to GIA

Property Documents

  • Solicitors Legal Pack
    Updated Date
    10.07.18
    File Size
    17 MB
    Login to View
  • Site Plan
    Updated Date
    19.06.18
    File Size
    4 MB
    View PDF
  • Catalogue Page
    Updated Date
    19.06.18
    File Size
    2 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi JarvisMhairi Jarvis +44 (0)131 552 5191 +44 (0)7718 899 341mhairi.jarvis@acuitus.co.uk
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Associate Auctioneers
Savills Wemyss House, 8 Wemyss Place,
Edinburgh
EH3 6DH
Rod Leslie 0131 247 3812 rleslie@savills.com
Seller's Solicitors
Shepherd & Wedderburn 1 Exchange Crescent, Conference Square
Edinburgh
Edinburgh
EH3 8UL
01312 281 222
Vikki Henderson 0131 473 5260vikki.henderson@shepwedd.co.uk

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