DEVELOPMENT FOR SALE OPPORTUNITY WEST MARKETGAIT, , DD1 1QP

Shell branded Petrol Filling Station Investment

Detailed Planning Consent for Flatted Residential Development SHELL BRANDED PETROL FILLING STATION INVESTMENT AND DEVELOPMENT OPPORTUNITY WEST MARKETGAIT, DUNDEE, DD1 1QP

INVERNESS

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OVERGATE SHOPPING CENTRE WELLGATE WEST MARKETGAIT SHOPPING TO CENTRE A INVERNESS

MALMAISON THE

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SLEEPERZ HOTEL DUNDEE NEW OFFICE FUTURE DUNDEE TRAIN STATION DEVELOPMENT DEVELOPMENT SITE

PERTH A ST ANDREWS

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STIRLING M A FIRTH OF FORTH

FUTURE HMS DISCOVERY DEVELOPMENT SITE M M V&A DUNDEE

M GLASGOW EDINBURGH

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SITUATION NEWCASTLE Dundee is ’s fourth largest city and the regional UPON TYNE Dundee’s is one of the largest teaching The £1 billion transformation of Dundee’s Waterfront over CARLISLE centre of Tayside with a population of 180,000 and over in the UK, highly rated for medical and scientific 248 hectares along 8 kilometres of the is the

640,000 within an hour’s drive thanks to excellentM TO MANCHESTER transport research while Abertay and Dundee Universities are most active regeneration project in Scotland generating BIRMINGHAM TO links via the A90 dual carriageway and motorway LONDON network recognisedLONDON for excellence in biomedical science and 7,000 jobs. to Aberdeen, Perth and Edinburgh. Dundee east coast informationM technology. The Waterfront’s star attraction, the V&A Design Museum, mainline rail station serves 1.8 million passengers annually Duncan of Jordanstone School of Art and Design is opened in September 2018 and recorded 830,000 visitors in and provides daily flights to London with among the top art and design schools in the UK while its first year. connections to Europe and beyond. Dundee & Angus College is the largest in the country with Several of Scotland’s largest employers are represented 23,000 students whose performance over the last 4 years including HMRC, Interactive Investor, DC Thomson, significantly exceeded the national average. Stagecoach and numerous electronic gaming firms, a sector in which Dundee excels above most other cities in the UK. SHELL BRANDED PETROL FILLING STATION INVESTMENT AND DEVELOPMENT OPPORTUNITY WEST MARKETGAIT, DUNDEE, DD1 1QP

LOCATION The Shell branded petrol filling station is prominently located WEST MARKETGAIT in Dundee city centre on West Marketgait at its junction with Ward Road a short walk from the Universities, shops, shopping centres, bars, cafés, restaurants, theatres, tourist attractions, train and bus stations and less than 5 minutes’ drive from the airport. It is next to a recently built Hampton by Hilton Hotel, opposite Travelodge and Pure Gym, near Dundee Police HQ, Dundee Sherriff Court and the Overgate Shopping Centre with numerous national retailers anchored by Primark, Debenhams, H&M and New Look.

Constitution Road A2 STREET Peep Dudhope Terrace Hillton Blackscrot PRINCES ODay AD RO A DESCRIPTION RI TO Lane IC Foundry Lane V King Street EAST M Park 2 ARK The property comprises a Shell branded petrol filling A ETG Retal AIT Gallaher station with associated retail and car wash facilities on a Dudhope Park Dudhope Street St A2 Barrack Road site of 0.33 acres. Wellgate AndresKing Street T Shopping DOCK STREET AI EAST TG Centre KE AR Street Street A2 LOCHEE ROAD A1 NORTH M Mary Ann Lane Seagate PFS OPERATION INFORMATION Aertay Panmure

Unersty Seaate Bell Street Bus Street Ash Street TradesStaton The petrol filling station generates turnover in excess of A1 W POLICE SCOTLAND HQ SHERIFF COURT Lane Camperdon Candle £2M per annum and has been operated by KS Associates Blinshall Street EST Douglas WestStreet Hendersons Wynd Murraygate Meadoside Lane MARKETGAIT Cty Quay West Bell Street Reorm Street SeagateGellatly since 2008 under a licence that the Landlord may terminate Keiller Frate HAMPTON BY HILTON Commercial Street Miln Street Street Uncorn Shopping Dock at 3 months’ notice. Centre Ward Road Victoria North Lindsay Street PURE GYM Castle Street Victoria Dock Road Profits from operations have averaged c. £78,000 per Bank Street South Br Guthrie Street South Ward Road ook Stre annum for the last 3 years including gross rent payable by et Echange St TRAVELODGE Centre High Street Crichton Street the operator of £33,000 per annum. Willison Street Whitehall St Hakhill Dock Street

WEST MARKETGAIT es Further details may be made available to interested parties. Union Street C r Oerate Shon ll a A1 h West Port e t i A2 To Fie

WEST h MARKETGAIT

W South Tay Street Nethergate TENURE Hakhill MARKETGAIT Park Place SOUTH The property is held on heritable title (Scottish equivalent of Old Hakhill Smalls English Freehold). Station Unersty Wynd E Railay IV VA o Dunee Nethergate R D Airlie Place E ID S R RATEABLE VALUE Springfield E IV R RRS Dscoery A The rateable value for the property is £19,800. Perth Road Greenmarket EPC Magdalen Green To P erth, Ed inbu rgh & Information on the property’s EPC rating is available on Glasgo A Dunee Arort request. SHELL BRANDED PETROL FILLING STATION INVESTMENT AND DEVELOPMENT OPPORTUNITY WEST MARKETGAIT, DUNDEE, DD1 1QP

PLANNING SALE TERMS Dundee City Council granted Planning Consent on 25 July 2019 for the redevelopment of Offers in excess of £1.2 Million are invited for the heritable interest in the property subject to the the PFS into an 8 storey building comprising 43 residential flats over seven levels above 4 existing licence and the recently granted planning consent. commercial units at ground floor facing West Marketgait. A purchase at this level would reflect a gross yield of 6.5%. Upper floors 1 to 6 would contain 41 x 2 bedroom flats with balconies to corner flats. Floor 7 would contain 2 x 3 bedroom penthouse flats with roof top balconies. VAT A service yard at the rear would provide parking for four vehicles, an access road for Our clients have elected to waive exemption for VAT and accordingly VAT will be payable on the delivery vehicles and cycle storage spaces, a bin store and access points for the retail and purchase price although we anticipate the sale will attract TOGC treatment. residential units. LEGAL COSTS Full details of the scheme may be seen via Dundee City Council Planning Portal using Ref. Each party will be responsible for their own legal costs incurred in connection with the transaction. No: 18/00798/FULL Interested parties are encouraged to make their own enquiries of Dundee City Council VIEWING AND FURTHER ENQUIRIES Planning Department. For further information or to arrange a viewing, please contact the sole selling agents:

Peter Smolka Guy Strachan PARTNER PARTNER DD 0131 225 8855 DD 0131 226 7555 M 07831 280 237 M 07703 192 692 [email protected] [email protected]

Commercial Property Consultants Chartered Surveyors 46 Charlotte Square Edinburgh EH2 4HQ COMPUTER GENERATED IMAGE www.smolkastrachan.com

Smolka Strachan LLP for themselves and for the vendor of the property give notice that: i) these particulars of sale are a general outline for the guidance of intending purchasers and do not constitute all or any part of any offer or contract. ii) intending purchasers should satisfy themselves as to the accuracy of descriptions, dimensions, references to condition, permitted use and other details all of which are given without any warranty whatsoever. iii) unless otherwise stated all rents and prices are quoted exclusive of VAT. iv) they have not conducted and are not aware of any investigations into any potential or actual pollution or contamination of the building, land, air, or water and give no warranties whatsoever in respect thereof, of which prospective purchasers should satisfy themselves. v) in accordance with the terms of the Requirements of Writing (Scotland) Act 1995 these particulars are not intended to create any contractual relationship or commitment which can only be entered into by exchange of missives between respective solicitors. Date of Publication: October 2019