Wed, 01 Dec 2021 | COMMERCIAL PROPERTY
Dundee’s Wellgate Shopping Centre is set to go up for auction later this month with a guide price of £500,000. The 50,000+ sq m shopping centre, which was built in the mid-70s, reportedly generates annual income of just over £1.34 million and comprises 76 retail units.
Current retail tenants of the shopping centre include Burger King, JD Gyms, Home Bargains, B&M, Superdrug, Savers, Iceland and Poundland. The shopping centre's 76 units are spread across the ground, first and second floors. In addition to its retail tenants, the Wellgate also features a job centre along with a 583 space multi-storey car park located on Victoria Road.
The property is being sold by commercial property consultant Acuitus, who said that the centre is “situated in the prime retail pitch on the north side of Panmure Street at its junction with Murraygate”.According to Acuitus, the Wellgate offers asset management opportunities and has the potential to benefit from future redevelopment for a range of uses, subject to necessary consents.
The auction for the Wellgate centre will be held at 1pm on December 13 and the process is set to be livestreamed on Acuitus’ website, with bidding by telephone, online and by proxy.
Mhairi Archibald of Acuitus Scotland commented: “Opportunities to buy a prime retail centre in a Scottish city are few and far between. The much-loved Wellgate Centre is one of two main shopping centres in Dundee and is ideally located in the prime retail pitch on the north side of Panmure Street at its junction with Murraygate. It’s the perfect Christmas gift for an investor ahead of the busy January sales period.”
One of the best ways to find properties below market price is to look at recent administrations.
An opportunity has arisen to acquire a highly lucrative general store, post office and cafe prime village, South Lanarkshire.
LEASEHOLD
An opportunity has arisen to acquire a company with its own-product IP, designs, and branding this is a very successful, independent business that has a range of vehicle and workshop accessories sold into the automotive aftermarket, workshop, and DIY...
LEASEHOLD
This company supplies and installs artificial grass suitable for use in gardens, play areas, and putting greens, as well as on balconies and terraces, it is now for sale.
LEASEHOLD
|
26
|
|
Jan
|
Kingswood strikes first deal of 2022 as acquisition drive continues | BUSINESS SALE
Wealth and investment management group Kingswood has continu...
|
25
|
|
Jan
|
£47m-revenue contractor falls into administration | ADMINISTRATION
Manchester-based contractor Beaumont Morgan Developments has...
|
24
|
|
Jan
|
Spirax-Sarco to acquire Cotopaxi at 6x revenue | BUSINESS SALE
Thermal energy and pumping specialist Spirax-Sarco Engineeri...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources