RESIDENTIAL INVESTMENT OPPORTUNITY

35 / 37 / 39 / 43 / 45 ABERCORN STREET DUNDEE, DD4 7FA

RESIDENTIAL INVESTMENT OPPORTUNITY | 35 / 37 / 39 / 43 / 45 ABERCORN STREET, DUNDEE, DD4 7FA

LOCATION

The portfolio of residential properties is located on Abercorn Street in Dundee, around 1.5 km north east of the city centre. The subjects for sale are close to a range of local amenities with Asda, Morrisons and Aldi supermarkets all within around 2 km. The apartment blocks are positioned to the north of a quiet leafy cul-de-sac with numerous parks and green space within walking distance. The immediate area is mainly residential in character with established family properties predominating. Detached housing and a church is positioned to the south and east of the properties while to the west and north is an army reserve centre. The main vehicular access is from Old Craigie Rd to the east of Abercorn Street.

The area benefits from excellent transport links with regular bus services into the city centre from the nearby Arbroath Road. Access to the Kingsway (A90) is available around 1 km from the properties and the dual carriageway provides routes to Aberdeen, Perth and central Scotland. Dundee railway station is located within the city centre and provides direct rail services to Perth (approx. 20 min), Edinburgh (approx. 1 hr 15 min) and Glasgow (approx. 1 hr 25 min). Dundee’s airport provides daily flights to London Stansted.

Dundee is located on the East Coast of Scotland between Aberdeen, approx. 105 km (65 miles) to the north, and Edinburgh, approx. 96 km (60 miles) to the south. The city has a population of around 147,000 (2011 Census) and is Scotland’s fourth largest settlement. Dundee is a regional hub for employment, services and retailing and an established centre of excellence in education, IT, design and life sciences. The city’s Waterfront is experiencing continued economic development and regeneration with the new V&A Museum due to open 2018.

RESIDENTIAL INVESTMENT OPPORTUNITY

> 29 spacious 2-bed modern apartment properties within 5 blocks

> Offered for sale in five individual lots, in combination, or as a whole

> Gross Internal Area extending to approx. 22,793 sq ft in total

> Currently producing £183,480 per annum under Short Assured Tenancies (SATs)

> Situated in quiet leafy cul-de-sac close to Dundee city centre

> Guide price £3,500,000 for the whole

Both Map and site plans: Crown Copyright - licence no. 100018190. Based on Ordnance Survey 2014. Not to Scale - For Identification Purposes Only.

RESIDENTIAL INVESTMENT OPPORTUNITY | 35 / 37 / 39 / 43 / 45 ABERCORN STREET, DUNDEE, DD4 7FA

DESCRIPTION

The opportunity comprises 29 modern apartments within five blocks arranged over ground, first and second floors. Within four blocks the properties for sale comprise all six units while one block (35) includes five. Each of the spacious 2-bed apartments is in good rental condition and comprises a two double bedrooms, lounge, kitchen, bathroom and hallway. All of the apartments benefit from double glazing, electric central heating, secure entry system, well maintained garden / communal areas and private parking. The properties are fully let (apart from unit 43/C) with a total passing rent of £15,290 pcm, at an average rent of approximately £546 pcm.

Apartment Block Number Floor Sq. ft Sq. m Passing Rent PCM (£) Rent PA (£) Tenancy Start Date

Lot 1 - 35 Abercorn Street

A 35 G 775 72.0 550 6600 14/01/2014

B 35 G 775 72.0 550 6600 06/04/2010

D 35 1st 775 72.0 550 6600 01/08/2011

E 35 2nd 775 72.0 600 7200 01/01/2013

F 35 2nd 775 72.0 500 6000 24/04/2014

Lot 2 – 37 Abercorn Street

A 37 G 775 72.0 525 6300 26/11/2012

B 37 G 775 72.0 550 6600 15/04/2014

C 37 1st 775 72.0 600 7200 01/10/2013

D 37 1st 775 72.0 520 6240 17/02/2006

E 37 2nd 775 72.0 600 7200 05/01/2010

F 37 2nd 775 72.0 550 6600 24/06/2014

Lot 3 – 39 Abercorn Street

A 39 G 828 76.9 475 5700 26/10/2012

B 39 G 828 76.9 550 6600 01/08/2014

C 39 1st 828 76.9 550 6600 22/02/2010

D 39 1st 828 76.9 600 7200 03/05/2011

E 39 2nd 828 76.9 600 7200 11/07/2014

F 39 2nd 828 76.9 600 7200 08/08/2012

Lot 4 – 43 Abercorn Street

A 43 G 775 72.0 550 6600 01/10/2014

B 43 G 775 72.0 530 6360 04/08/2005

C 43 1st 775 72.0 Vacant n/a n/a

D 43 1st 775 72.0 600 7200 01/08/2013

E 43 2nd 775 72.0 545 6540 26/07/2005

F 43 2nd 775 72.0 475 5700 21/07/2014

Lot 5 – 45 Abercorn Street

A 45 G 775 72.0 400 4800 04/05/2012

B 45 G 775 72.0 520 6240 05/06/2007

C 45 1st 775 72.0 550 6600 28/12/2014

D 45 1st 775 72.0 550 6600 21/01/2011

E 45 2nd 775 72.0 500 6000 01/11/2012

F 45 2nd 775 72.0 600 7200 01/03/2010

22,793 2117.5 15,290 183,480

*Rents as of June 2015*These floor areas have been supplied by the vendor and we understand they have been measured in accordance with the RICS Code of Measuring Practice.

Important Notice

Savills, their clients and any joint agents give notice that:

1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact.

2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise.

Designed and Produced by Savills Marketing: 020 7499 8644 | June 2015

TENURE

The heritable interest (freehold) in the properties is offered for sale subject to contract and existing tenancies.

METHOD OF SALE

The properties are offered for sale in five individual lots, in combination, or as a whole.

• Guide price £3,500,000 for the whole

• Guide £600,000 for lot 1 individually

• Guide price £720,000 for lots 2 / 3 / 4 / 5 individually

Parties should note interest with Savills in the first instance in order to be kept informed of any closing date set and receive further information, including Energy Performance Certificates (EPC’s).

Strict timetables regarding agreed milestones will be observed.

The owner reserves the right to sell the portfolio without reference to any other party.

VIEWING

Viewings are by appointment only. To access the properties please contact the selling agents.

CONTACTS

For further information please contact:

Richard Cottinghamrcottingham@savills.com+44 (0) 131 247 3786

Ben Broughbbrough@savills.com+44 (0) 131 247 3730

SavillsWemyss House, 8 Wemyss Place,Edinburgh, EH3 6DHT +44 (0) 131 247 3700F +44 (0) 131 247 3724

RESIDENTIAL INVESTMENT OPPORTUNITY | 35 / 37 / 39 / 43 / 45 ABERCORN STREET, DUNDEE, DD4 7FA

Both Map and site plans: Crown Copyright - licence no. 100018190. Based on Ordnance Survey 2014. Not to Scale - For Identification Purposes Only.