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Previous Auction Lot

From Auction held in September 2018
Lot 9


Ground Floor with Basement Retail Premises – Former Bank Branch – Substantial Corner Unit – Income from ATM Letting - £2,000p.a.


The property lies on the east side of Albert Street, on a corner site at its junction with Cardean Street. Albert Street forms part of one of the main arterial routes into the City Centre from the north side of Dundee (the A929) – it is easily accessed from the Kingsway and only 0.75 miles from the City Centre. This part of Albert Street largely comprises traditional sandstone terrace buildings, which have a wide range of ground floor retail units, with the upper floors being predominantly flats. Adjoining side streets are mainly in residential use.

Dundee is Scotland’s fourth largest city with a population of 150,000, lying on the north side of the Tay Estuary, 60 miles to the north of Edinburgh and 80 miles to the north-east of Glasgow. Whilst Dundee has a rich industrial heritage, based around its harbour, maritime, textile and jute industries, it is currently transforming itself into a vibrant modern City. New technology industries are well established in the City, there are two universities and an ongoing massive waterfront rejuvenation, which this year sees the opening of the Dundee Victoria & Albert Museum. The city as a whole is likely to benefit as this major investment ripples out from the City Centre.


Located on a prominent corner site, the property comprises basement and ground floor accommodation within an end of terrace 4 storey traditional building. Until recently it has been used as a Bank Branch. The building is constructed with sandstone walls and a pitched slated roof. The majority of the ground floor frontage has been faced with polished grey marble effect panels and there are large plastic framed display windows. On the ground floor is an open plan former banking area, two front interview rooms, a rear office and a strong room. The basement includes a staff room, safe, male & female toilets.

Floor Area

Measurements are of net internal floor areas and are approximate only.

Ground floor:

  • 105 sq.m. including the ATM unit.


  • 20 sq.m.


Owner vacant possession, except for the ATM unit and right of access thereto which will be subject to a new lease to Royal Bank of Scotland PLC for a term of 5 years at the rent of £2,000 p.a.(inc VAT). The lease will be subject to a 3 month rent free period at the commencement of the lease. The Tenant will insure the ATM unit only. In addition the tenant will be permitted to install a CCTV system in connection with the ATM. The Tenant will remove the ATM and any CCTV system at the end of the lease term. The lease will be on standard terms and cannot be negotiated by the purchaser – it is recommended that interested parties inspect the lease terms which are available from the seller’s solicitors, DLA Piper Scotland. The vacant property will be sold subject to certain restrictions preventing the following uses: Businesses involving, pawnbrokers, adult sex shops, bookmakers or other gambling businesses, bars/public houses, the sale of firearms and the sale of any paraphernalia associated with illegal drugs. In addition, the use of the property for residential purposes will not be approved.


Mains water; mains drainage; mains electricity; electric heating. The Tenant will make a £300 per annum payment to the Landlord during the lease as a contribution towards the electricity costs of the ATM.


Dundee City Council Development Management, Dundee House, 50 North Lindsay Street, Dundee, DD1 1LS. Email: development.

Rateable Value

£9,700. The rateable value may require re-assessment to reflect the alterations arising from the separation of the ATM.


Band G


By prior arrangement with the auctioneers, SVA Property Auctions Ltd. Tel – 0131 624 6640.

Joint Auctioneers

GVA (Edinburgh) Tel: 0131 469 6070.

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