Commercial investment opportunity with 11.7% yield based on guide price. Online Property Auctions Scotland are delighted to offer this office and retail space in the heart of Perth City Centre for sale. The building dates from 1766 and is Category 'C' listed. No 8 is on the ground floor, with easy access from Fleshers Vennel - it has a steel roller shutter screen protecting a glazed frontage.
Description
****AVAILABLE FOR IMMEDIATE PURCHASE, PRE AUCTION OFFERS ARE WELCOME ON THIS PROPERTY. CONTACT OUR OFFICE TO DISCUSS****
FOR SALE BY ONLINE AUCTION THURSDAY 25TH JANUARY 2024 AT 9.00AM. Online Property Auctions Scotland are delighted to offer this office and retail space in the heart of Perth City Centre for sale. The building dates from 1766 and is Category 'C' listed. No 8 is on the ground floor, with easy access from Fleshers Vennel - it has a steel roller shutter screen protecting a glazed frontage.
***Fantastic opportunity in the heart of the historic town centre which has been heavily invested in recently***
- Estimated size: 38.94 sq. m. (419 sq. ft.)
- Current rental of £3500 per annum.
- Current tenant agreement due to expire December 2025 (with tenant break due December 2024).
- No VAT on property.
Perth is located in the heart of Scotland, 43 miles north of Edinburgh and 63 miles north-east of Glasgow, and boasts excellent communication links via the A9, A85 and A90. The property is located on a main street in the city centre, minutes from Perth train station and Perth bus station, and is surrounded by amenities such as shops, restaurants, takeaways and more. The property is within very easy reach of the soon-to-open brand new Perth Museum (March 2024), and of Perth Art Gallery which features one of the UK's oldest collections. The renowned Perth Concert Hall is also within walking distance.
Focused on delivering economic resilience and long-term growth through innovation and sustainability, Perth’s bold agenda for the future has started now with a £300 million City Deal that will leverage ongoing investment and exciting, long-term development potential. As an area, Perth has grown by 12% in the past ten years, generating £4billion GVA in 2019 with productivity of £58,700 – 17% higher than the Scottish average. Now, with the demands of 21st century life impacting how we work, live, and do business, Perth’s ability to adapt and evolve in an ever-changing global marketplace, has secured its reputation as an innovative business destination on the world stage. As a progressive city, Perth aims to effect long-term, meaningful change that will give rise to inclusive, sustainable, economic growth and positive human capital (https://www.investinperth.co.uk/).
Nearby sales include:
6/4 Fleshers Vennel - £94,000 - 2020
7 Fleshers Vennel - £58,000 - 2019
B/ 4 Fleshers Vennel - £79,500 - 2018
To view legal documents relating to this property please visit our website.
Purchases are subject to a Buyer’s Premium. There may also be additional fees on certain properties. Please refer to the Articles of Roup/ Special Conditions in the Legal pack to confirm.
Key Feature 1
Office and retail space in the heart of Perth City Centre
Key Feature 2
Perth has grown by 12% in the past ten years
Key Feature 3
Category 'C' listed building