The subjects comprise a mid terraced retail unit of brick construction with pitched slare roof over. They trade as a small convenience store
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.
Perth is located at the base of the River Tay in the heart of Scotland with the A9 and A90/M90 giving easy access to Dundee, Edinburgh, Glasgow and the south beyond.
Accommodation
35.28 sq m (380 sq ft )
Terms
The lease is let for a period of 20 years from 17th September 2013 on full repairing and insuring terms. The lease was assigned to the existing tenants during September 2015. The annual rent is £7,800 and is subject to five yearly reviews.
TERMS Our client is seeking offers in excess of £69,000 for their heritable interest subject to the existing lease. This would represent a net initial yield of 11.3%.
EPC Available upon request.
VAT Prices are quoted exclusive of VAT (if applicable).
RATEABLE VALUE The subjects have been assessed for rating purposes at a Rateable Value of £3,350.
Specification
- SMALL RETAIL INVESTMENT LET UNTIL 17TH SEPTEMBER 2033
- ANNUAL RENT £7,800 PER ANNUM
- ASKING PRICE – OFFERS OVER £69,000
- NET INITIAL YIELD – 11.3%