The subjects comprise a mid terraced ground floor retail unit contained within a traditional tenement building. The main walls are of solid stone construction whilst the roof over is pitched and clad in slates.
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 minutes drive time.
Dundee lies approximately 35 km (22 miles) to the east with Edinburgh 69 km (43 miles) to the south and Glasgow 98 km (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. The subjects are located at the eastern end of South Street which is a busy vehicular thoroughfare within the centre of Perth.
Accommodation
Net Area 35.3 Sq. m. (380sq. ft.)
Terms
Our client is inviting offers of £65,000 for their heritable interest which would reflect a net initial yield of 11.79% Lease Information The property is let to a private individual from 27th May 2024 to 26th May 2034 with tenant break option 27th May 2029. The annual rent is £7,800 per annum and is next due for review 27th May 2029 A copy of the lease can be provided to all interested parties.
Energy Performance Certificate Awaiting further details.
VAT All figures are quoted exclusive of VAT.
Legal Costs Each party will to bear their own legal costs in connection with the sale of the property.
Specification
- Let to private individual at £7,800 per annum until 26th May 2034
- Good opportunity for private investor.
- Busy central location
- 100% Small Business Rates Relief for tenant.
- Net Area 35.3 Sq. m. (380sq. ft.)
- Price - £65,000 reflecting net initial yield of 11.79%