Retail premises to let in Albert Street, Dundee DD4

Location

The subjects are located on Albert Street at its junction with Whaler’s Close in a popular neighbourhood shopping area to the northeast of Dundee City Centre. The area is populated by a mix of national and local traders including Boots.

Description

The property comprises a corner ground floor retail unit contained within a traditional four storey tenement building with commercial premises at ground floor level and residential dwellings on the upper levels.

Accommodation

The accommodation comprises an open plan retail area with w.c. To rear.

Floor area

We calculate the net internal floor area of the property at 30.75 sq m (331 sq ft).

Rent

Our client is seeking a rent of £4,750 per annum on full repairing and insuring terms for a period to be agreed.

Rateable value

According to the Scottish Assessor’s website () the subjects have a Rateable Value of £4,200 effective 1st April 2023. The uniform business rate for the current year is £0.498 pence in the pound.

Occupiers may be eligible for 100% rates relief through the Small Business Bonus Scheme if the combined rateable value of all their business premises in Scotland is £35,000 or less.

Energy performance certificate

The Energy Performance Certificate rating is G.

 
Service charge

The tenant will be responsible for the landlord’s management commission at a rate of 10% plus VAT of the agreed rent.

Offers

In the normal Scottish form addressed to this office.

Acquisition costs

Each party shall be responsible for their own legal costs incurred in connection with the eventual tenant liable for any Land Building and Transaction Tax (LBTT) and VAT.
Thereon.

Date of entry

To be mutually agreed.

Anti-money laundering

The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 came into force on 26th June 2017. This now requires us to conduct due diligence not only on our client but also on any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/ occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before any transaction can proceed.