Kingsway East Leisure ParkKingsway East Leisure Park, Dundee, DD4 8JX
Asking Price £12,500,000
• Dundee is Scotland’s fourth largest city, situated in a stunning geographical location on the north bank of the Firth of Tay on the east coast of the country.• Dundee is one of the UK’s most progressive cities and has a rolling investment programme. The largest regeneration programme includes a £1 billion investment in Dundee’s Waterfront creating a mixed use, riverside urban quarter right in the heart of the city.• Kingsway East Leisure Park is located on the North East side of the city.• The Park is anchored by a 10-screen cinema as well as 4 additional units with nearby occupiers including Mecca Bingo, B&M, Wickes, Pets at Home, Archers Sleepcentre, McDonalds and Asda Superstore. • The subjects extend to approximately 86,631 sq ft.• The tenant line-up includes Odeon, Fit4Less by Energie and Domino’s Pizza – there are two units available to let.• Odeon Cinemas Limited have recently committed to a 10 year extension to their existing lease and have embarked on a significant refurbishment programme at a cost of around £5 million to upgrade their cinema to the new format Luxeconcept.• Total income of £948,458 per annum (including guarantees).• Approximately 80% of the income is secured to Odeon Cinemas and benefits from RPI linked rent reviews.• WAULT of 15.01 years to expiry & 14.80 years to breaks.• Heritable Interest.• Offers in excess of £12,500,000 exclusive, which reflects a net initial yield of 7.11%.