Britton Property.
Investment For Sale
127-129 King Street, Castle Douglas DG7 1LZ
Attractive Retail Investment Let to The Original Factory Shop Limited
10 year lease from August 2023 Rent: £30,000 pa
FRI lease
O/O £200,000 are invited – 14.70% NIY
Viewing strictly by appointment with BRITTON PROPERTY
Andrew Britton
T. 07990 505 421
E. andrew@brittonproperty.co.uk
The property is situated on the east side of King Street, north of its junction with Church Street within the town of Castle Douglas.
Castle Douglas is a town of around 4,200 people with an expanding tourist industry situated approximately 18 miles south west of Dumfries, within the Dumfries & Galloway region. Neighbouring occupiers include Scotmid, Wilkies, Bank of Scotland, Marchbank Bakers and In-House Chocolates.
The premises comprises the ground and first floor of a 2 storey building surmounted by a flat roof. The property benefits from a large glazed frontage with multiple display windows and partially recessed entrance.
The premises have been extensively refurbished and fitted out to Original Factory’s high quality specification. The ground floor comprises sales space with the 1st floor comprising additional sales space along with storage and staff accommodation. The premises benefits from rear loading via a shared access yard.
The ground floor extends to the following approximate areas:
Ground Floor: 2,605 sq ft / 242 sqm
First Floor: 6,674 sq ft (620 sqm)
Let to Original Factory Shop Limited on a 10 year FRI lease commencing on August 2023 with tenant break option on the 5th anniversary ie August 2028. The passing rent is £30,000pa with a rent review on the 5th anniversary to OMV.
Offers in excess of £200,000 are invited. A purchase at this level would reflect an attractive net yield of 14.70%.
On application
Each party to be responsible for their own legal and professional costs incurred in this transaction. For the avoidance of doubt the ingoing tenant will be responsible for Land & Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.
Britton Property is a niche, independent retail and leisure consultancy, providing professional and bespoke advice to clients.