71-75 Murraygate
Dundee
DD1 2EA

Heritable Retail Investment

  • Entire building with potential for upper floor redevelopment (Subject to planning)
  • Purpose built modern retail unit let to Holland and Barratt and HMV
  • Located on prime retailing pitch in Dundee city centre
  • Neighbouring occupiers include Marks and Spencer, Tesco Metro, Deichmann and WH Smith
  • Lot
    39
  • Auction
    16/Jun/2021
  • Rent
    £155,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £850,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 71-75 Murraygate<br>Dundee<br>DD1 2EA
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* More information on the term "price" can be found here

Property Information

Location
Miles
65 miles north of Edinburgh
65 miles south of Aberdeen
Roads
A90
Rail
Dundee Railway Station (Mainline and Scotrail)
Air
Dundee Airport, Edinburgh Airport
Situation

Dundee is the fourth largest city in Scotland. With a population in excess of 148,000, Dundee is known for its growing technology and life science sectors in connection with the city's two universities - University of Dundee and Abertay University. The waterfront area of the city is nearing completion with the V&A museum now well established as a tourist attraction. Located only 12 miles north of St Andrews and 20 miles east of Perth, Dundee benefits from good links to various famous golf courses in Scotland. The property is situated in the prime retail pitch on the eastern side of Murraygate at the north end of the pedestrianised section of the street, close to the Wellgate Shopping Centre. Murraygate links both the Wellgate and Overgate Shopping Centres. Neighbouring occupiers include Tesco Metro, Marks and Spencer, Specsavers, WH Smith and Bank of Scotland.

Tenure

Heritable.

Description

Built in 1990, the property comprises purpose built modern retail units planned over three floors. There is a shared service yard to the rear accessed via St Andrew Street. Whilst the upper levels of the property are currently demised to Holland & Barrett and HMV, there is potential in the longer term to convert this space for alternative uses such as residential, subject to planning.

VAT

VAT is applicable to this lot.

Viewings

Please contact Mhairi Archibald

EPC

D rating. Please see the legal pack for more information.

Tenancy & Accommodation

UnitFloorFloor Areas
(Approx)
TenantTermRent p.a.xReview
71GF, FF, SF
725.00 sq m
(7,804 sq ft)
SUNRISE RECORDS
AND ENTERTAINMENT
LIMITED T/A HMV (2)
10.5 years from
01/07/2013 until
31/01/2024 (1)
£90,00015/05/2023
75GF, FF, SF
649.75 sq m
(6,994 sq ft)
HOLLAND & BARRETT
RETAIL LIMITED (4)
Term 10 years from
14/01/2019 until
13/01/2029 (3)
£65,00007/01/2024
Total
1,374.75 sq m
(14,798 sq ft)
  £155,000 

(1) There is a mutual break option on 31st January 2022, exercisable on 3 months prior written notice, and the tenant will pay rent monthly.
(2) For the year to 30/05/2020, Sunrise Records and Entertainment Limited reported a turnover of £187,932,000, of negative £198,000 and shareholder funds of £41,000 (Source: NorthRow 10/05/2021). The Canadian music company Sunrise Records & Entertainment Limited acquired HMV in 2019.
(3) Tenant only break option on 14th January 2024 on 6 months prior written notice. The Rent will also be reviewed on this date to the higher of the passing rent and OMR.
(4) For the year to 30/09/2020, Holland & Barrett Retail Limited reported a turnover of £413,639,000, a pre tax profit of £5,749,000 and have a net worth of £307,466,000. Holland & Barrett is a chain of health food shops with over 1,300 stores in 16 countries, including a substantial presence in the United Kingdom. The company employs over 5,000 people.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    10.06.21
    File Size
    71 MB
    Login to View
  • Site Plan
    Updated Date
    27.05.21
    File Size
    872 KB
    View PDF
  • Catalogue Page
    Updated Date
    27.05.21
    File Size
    676 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Shepherd and Wedderburn LLP 1 Exchange Crescent, Conference Square
Edinburgh
Scotland
EH3 8UL
Elaine Todd 0131 473 5296elaine.todd@shepwedd.co.uk

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