Britton Property.
Investment For Sale
Abbeygate Shopping Centre, Arbroath DD11 1HY
Prominent Town Centre shopping centre
Extending to 44,134 sqft with car parking for 205 vehicles
Tenants include Home Bargains, Poundland, Greggs, Specsavers
Occupies a total site area of approximately 3.75 acres
Potential for future redevelopment on the car park
Total Current Rent Reserved - £273,813pa
Guide Price - £950,000-£1.15m
Viewing strictly by appointment with BRITTON PROPERTY
Andrew Britton
T. 07990 505 421
E. andrew@brittonproperty.co.uk
Arbroath is positioned on the north-east coast of Scotland approximately 29 km (18 miles) north-east of Dundee, within the Local Authority region of Angus. The town, which is the largest of the Angus towns, has a resident population of some 23,500 persons. The town benefits from good communication, being adjacent to the A92.
The property is situated in a prominent corner position on the south side of Lordburn, at its junction with Gravesend.
The Abbeygate Shopping Centre, comprising a purpose-built mall constructed in 1984, is located at the heart of Arbroath on High Street and is the focal point of the town’s retail offering, providing approximately 44,134 sqft of sales, ancillary and storage accommodation, the centre offers 18 individual retail units at ground floor level. In addition, it offers some storage, offices and a residential flat above. The centre is formatted in an ‘L’ shape with retail units lining the parade that branches west off the High Street.
Tenants within the Centre include Home Bargains, Poundland, Greggs, Specsavers and Peacocks.
The property and car park may lend itself to a variety of alternative uses and redevelopment, subject to obtaining all the necessary consents. The Seller has advised that there is interest from Trade Counter/ Retail occupiers to create a 10,000 sqft unit on the car park, alternatively for 4 blocks of 3 storey flats, total of 24 flats, subject to all agreements and consents. It may also be possible to create potential EV charging. Further information via the joint agent and local authority. Website: https://www.angus.gov.uk/planning_and_building
£950,000-£1.15m
Our client has opted to waive exemption for VAT. The transaction will be treated as a TOGC.
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.