The building housing Dundee’s Black Sheep Coffee, which opened in June, is up for sale.
Property agent Graham and Sibbald lists the unit, on the city’s High Street, for sale for offers over £450,000.
They have pitched the sale as a potential retail investment venture.
The current owners receive rent of £45,000 a year from Black Sheep, a coffee company founded by former St Andrews University students Gabriel Shohet and Eirik Holth.
Previously a Patisserie Valerie, the current lease runs until 2038. It has a net initial yield (NIY) of 9.59%.
Black Sheep Coffee will remain as tenants until then, barring to any break option being implemented.
Black Sheep Coffee building for sale
Dundee’s Black Sheep Coffee opened in June, with a £1 drinks deal on opening day.
Property agent Garth Davison describes the unit: “The subjects comprise a ground, first and basement level retail unit contained within a traditionally constructed mid terraced building.
“The property has the benefit of a large glazed modern double frontage directly on to High Street.
“The subjects are occupied by Black Sheep Coffee and as such are fitted out in connection with the corporate brand.
“Ground floor level comprises the café with WC facilities.
“The layout is modern and open plan. Upper floors and basement level are utilised for storage and staff facilities.”
He continues: “More precisely, the property sits on the north side of Dundee High Street between its junction with Reform Street and the continuation to Murraygate.
“High Street forms part of Dundee’s prime pedestrianised retail thoroughfare merging to the Overgate Shopping Centre.
“Surrounding tenants are largely of a local covenant to include, Greggs, RBS and Ladbrokes.”
Black Sheep Coffee’s global rise
Black Sheep Coffee was founded by former St Andrews University students Eirik Holth and Gabriel Shohet, who opened the first outlet in Camden back in 2013.
The firm has grown rapidly over the past decade and now has more than 90 shops across the UK.
It opened stores in St Andrews in 2022 and Aberdeen’s Union Square in May last year.
The company has also branched out globally, with new stores slated for Texas and Florida adding to existing Black Sheep Coffee shops in Paris and Manila.
