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32 South Tay St 3,532 sq ft 100% Let Office Property Dundee DD1 1PD £600,000 (£169.88/sq ft) 3.02% Net Initial Yield
Investment Highlights
- Mixed commercial and residential property
- Asset management potential
- VAT free, as the subjects are not elected for VAT
- Income producing asset
- May qualify for 100% rates relief
Executive Summary
The subjects comprise an income-producing mixed commercial and residential entire block in Dundee city centre, with current income from one commercial tenant and one residential PRT tenancy. The ground floor right commercial unit is let to a private individual on a lease that commenced on 1 July 2020 for five years and is now on Tacit Relocation, while Flat 1/1 is let at £850 pcm. The asset also includes vacant accommodation, providing asset management potential, and the property is VAT free.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Subtype
Office / Residential
Property Size
3,532 sq ft
Costar Property Class
B
Year Built
1925
Price
£600,000
Price per sq ft
£169.88
Yield
3.02%
NOI
£18,120
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
943 sq ft
Plot ratio
3.41
Total Plot Size
0.02 ac
Amenities
- Courtyard
- Security System
- Storage Space
1 1
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32 South Tay St
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