The premises comprise two ground floor retail units with extensive frontage onto the High Street. Each unit is provided in shell condition with mains electricity, water and a fire alarm installed ready for a tenant to fit-out to suit their specific requirements. The roof over the whole building was renewed with future guarantees provided.
Planning has been secured for Class 3 Use (Food and drink for the sale of food or drink for consumption on the premises) although a Class 1 use would also be a permitted use.
The first-floor of the building has recently been leased to a leisure user for gymnasium purposes and they are now in occupation.
Location
Perth is the administrative and retail centre for the Perth and Kinross area with a resident population of 44,820 and was awarded City status (2012) with a resident catchment population of approximately 321,000 within half an hour of the city centre.
Perth City Centre has long been synonymous with a quality shopping experience with a significant 9-million-day visitors each year. Total retail spend reaches over £1.1 billion per annum and is above average in all three sectors of convenience goods, comparison goods and catering (source: Perth & Kinross Council).
The subject property is situated on the south side of Perth High Street in a prime pitch close to M&S, Primark, Boots, WH Smith, Next, New Look, Fat Face and Caffe Nero. There is significant footfall benefitting the subject property with it being located on the main throughfare between Perth Concert Hall and the new Perth Museum.
Perth Museum is going to be the new home of the Stone of Destiny returning to Perth and Kinross for the first time in 700 years, the Stone, also known as the Stone of Scone, will be the centrepiece of the new Museum and will be free for all to view. It is estimated that Perth Museum’s aim to grow the regional visitor economy and address the gaps in the local tourism offer, will quickly come to fruition. Expected to attract an additional 167,000 visitors to Perth by year three and increase overnight staying visitors by 3% year on year, the Museum is a welcome addition to Perth’s growing cultural scene.
Accommodation
Unit 1, 52-58 High Street, Perth - 176.52 sq m (1,900 sq ft)
Terms
Rates - The subject property will need to be reassessed by the Assessor to establish the Rateable Value of each unit. It is possible the incoming tenant could benefit from a 12 month rate free holiday.
Terms - Our client is looking to lease the property on FRI terms for a negotiable duration. Offers to purchase will also be considered.
Legal Costs - Each party will be responsible for their own legal costs with the incoming tenant responsible for any LBTT and registration dues.
Specification
- Reconfigured premises providing two similar sized ground floor units.
- Potential to create larger single unit.
- High Street location close to the new Perth Museum (opens Spring 2024) and Café Quarter.
- New museum to bring an additional 167,000 visitors a year to Perth by year 3.
- Available for lease or sale.
- Class 1 & 3 planning consents.
- May be eligible for rates relief (subject to eligibility).