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Blocks 9 & 10, Myrekirk Road, Wester Gourdie Industrial Estate, Dundee, Scotland, DD2 4SH
For Sale - Under Offer
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Tenure
For Sale -
Type
Investment -
Price
Offers in Excess Of £4,100,000 -
Size
100,588 Sq Ft -
Ref No
15066
Property Highlights
- A rare opportunity to acquire a prominent industrial investment situated in Dundee's premier industrial location, Wester Gourdie Industrial Estate
- Block 9 let to Encon Insulation Limited until 9th Feb 2037 at a rent of £263,000 per annum
- Tenant has been in occupation for 21 years and recently agreed a new lease for a further 15 years
- Recent works to Block 9 include newly overclad twin span roof and new roller shutter door installed to the front facing gable wall
- Block 10 let to Go Karting for Fun Limited t/a Team Sport until 22 Aug 2038 at a rent of £92,622 with guaranteed rental growth via fixed uplifts every 5 years
- Attractive WAULT to expiry of 13.50 years and to breaks of 7.19 years
- Total combined annual rent of £355,622 per annum reflecting a low overall rate of £3.54 psf
- Heritable interest (Scottish equivalent to English freehold)
- Offers in excess of £4,100,000 are invited, a purchase at this level would provide an attractive net initial yield of 8.14% and low capital value of £40.76 psf
Overview
Prime long income industrial investment located in Dundee's premier industrial estate.
Dundee is located on the east coast of Scotland on the banks of the River Tay. Dundee is Scotland's fourth largest city with a resident population of approximately 150,000 and wider catchment of over 500,000. The city is situated approximately mid-way between Aberdeen, 65 miles to the north and Edinburgh 60 miles to the south.
Dundee has a proud manufacturing heritage and is the regional centre for employment. The city boasts two universities and is a growing centre of excellence in the fields of computer science and biotechnology. Regeneration of Dundee's waterfront has seen investment of over £1bn and the arrival of the V&A, adding to Dundee's reputation in arts and design.
The subjects are situated on the west side of Myrekirk Road, with immediate access onto the A90. Nearby occupiers include Menzies Distribution, UPS, Scania, Clark Commercials, NCR, and nearby amenity includes Asda, Aldi and Starbucks.