The subjects comprise ground floor and basement retail premises contained within a traditional three storey, attic and basement tenement building with private residential accommodation above. The property comprises a ground floor retail area trading as a wool shop with internal steps leading to basement storage and WC
Location
Perth, which has a population of approximately 45,000 persons (Source: Perth & Kinross Council), is the principal area of Perth & Kinross District and has recently been awarded City status. Historically known as the gateway to the Highlands, Perth enjoys close proximity to Scotland’s main cities with 90% of the country’s population accessible within 90-minute drive time. Dundee lies approximately 22 miles to the east with Edinburgh 43 miles to the south and Glasgow 61 miles to the southwest.
Accommodation
Ground Floor Retail 48.71 sq m(524 sq ft )
Basement Storage 43.08sq m ( 464 sq ft ()
TOTAL 91.79 sq m (988sq ft )
Terms
LEASE TERMS The property is let to Mrs Catherine McGregor on a lease which is continuing by tacit relocation. The annual rent is £9,200 per annum. The business is well established and has traded from this location for 30 years.
PRICE Our client is inviting offers of £75,000 which represents a Net Initial Yield of 12.05%
RATEABLE VALUE Rateable Value - £6,300
VAT Prices are quoted exclusive of VAT
LEGAL COSTS Each party to bear their own legal costs in connection with this transaction with the ingoing tenant being responsible for any registration dues and VAT thereon.
MONEY LAUNDERING The money laundering, terrorist financing and transfer of funds (information on the payer) regulations 2017 came into force on the 26th June 2017. This now requires us to conduct due diligence not only on our client but also and any purchasers or occupiers. Once an offer has been accepted, the prospective purchaser(s)/occupier(s) will need to provide, as a minimum, proof of identity and residence and proof of funds for the purchase, before the transaction can proceed.