Manhattan Works
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Manhattan Works
6 Properties Offered at $4,259,500 in Dundee
Investment Highlights
- High yielding
- Multi-let investment
- Mixed use
Executive Summary
Manhattan Works lies approximately 1 mile north east of Dundee city centre and occupies a significant rectangular site extending to c. 7.6 acres (3.08 ha) bounded by Dundonald Street and Court Street. The surrounding area provides a high concentration of residential and also commercial uses. The site falls within an area designated for General Economic Development in the local development plan.
Manhattan Works comprises a former Jute Mill originally constructed in 1873/1874. The property was extended and expanded over the years until 1995 when operations ceased. Manhattan Works has now been adapted into a thriving multi-use property offering accommodation to a diverse range of occupiers and businesses serving the local community and beyond. Accommodation / unit sizes range from 500 sq ft to 78,000 sq ft and onsite uses vary from storage & distribution, to manufacturing, and retail and leisure.
Instructed to invite offers in excess of £3,500,000 exclusive of VAT for the benefit of our client’s outright ownership interest. A purchase at this level will provide a net initial yield of 14.08% allowing for purchaser’s costs and LBTT of 6.47% and reflecting a capital rate of £20.73 per sq ft.
Manhattan Works comprises a former Jute Mill originally constructed in 1873/1874. The property was extended and expanded over the years until 1995 when operations ceased. Manhattan Works has now been adapted into a thriving multi-use property offering accommodation to a diverse range of occupiers and businesses serving the local community and beyond. Accommodation / unit sizes range from 500 sq ft to 78,000 sq ft and onsite uses vary from storage & distribution, to manufacturing, and retail and leisure.
Instructed to invite offers in excess of £3,500,000 exclusive of VAT for the benefit of our client’s outright ownership interest. A purchase at this level will provide a net initial yield of 14.08% allowing for purchaser’s costs and LBTT of 6.47% and reflecting a capital rate of £20.73 per sq ft.
Property Facts
| Price | $4,259,500 | Number of Properties | 6 |
| Price / SF | $25.19 / SF | Individually For Sale | 0 |
| Cap Rate | 14.08% | Total Building Size | 169,103 SF |
| Sale Type | Investment | Total Land Area | 45.60 AC |
| Status | Pending |
| Price | $4,259,500 |
| Price / SF | $25.19 / SF |
| Cap Rate | 14.08% |
| Sale Type | Investment |
| Status | Pending |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 169,103 SF |
| Total Land Area | 45.60 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Manhattan Works
12 Manhattan Works Dundonald St, Dundee DD3 7PY |
Office | 33,761 SF | 1955 | - |
|
Manhattan Works
Dundonald St, Dundee DD3 7PY |
Industrial | 14,000 SF | 2003 | - |
| 1 Court St, Dundee DD3 7RA | Industrial | 3,850 SF | 1900 | - |
|
Manhattan Works
20 Manhattan Works Dundonald St, Dundee DD3 7PY |
Flex | 10,244 SF | 1905 | - |
| Dundonald St, Dundee DD3 7PY | Industrial | 100,615 SF | 1959 | - |
| 15 Manhattan Works, Dundee DD3 7PY | Flex | 6,633 SF | 1920 | - |
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