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Retail Investment, 8 King Edward Street, Perth, PH1 5UT
1,696 Sq Ft / Retail / General Retail
Withdrawn - Last updated: 29 November 2022
Summary
Prime city centre retail investment, property is arranged over ground and basement and let on the following basis.
Tenant - The Body Shop International Ltd
Expiry - January 2028
Break - January 2026
Rent - £26,500 per annum (£37.91/sq ft ITZA)
The tenant has been in occupation since 1998 and have recently renewed at a re-based rent demonstrating commitment to the property.
For the year ending 31st December 2021, The Body Shop International Ltd recorded a turnover of £487M with pre- tax profits of £10M and a tangible net worth of £293M.
D&B Rating - 5A1
Key Points
Well-let retail investment located in heart of Perth City CentreThe Body Shop have been in occupation since 1998Strong D&B Credit Rating – 5A1Recently renewed for 5 years, tenant break at 3, demonstrating commitment to the propertyRebased rent £26,500 paExpiry in January 2028Offers over £300,000 invited = NIY of 8.58%Elected for VAT, however, a sale is likely to be treated as a TOGCLocation
The historical city of Perth is the administrative centre of Perth & Kinross council area located approximately 20 miles west of Dundee, 30 miles north of Edinburgh and 50 miles north-east of Glasgow
Perth is one of the fastest growing cities in Scotland with a population of approximately 47,350 persons and a catchment population of over 150,000 persons
More specifically the subject property is situated within the heart of Perth City Centre on the east side of King Edward Street just by its junction with High Street, the city’s principle retail street
Neighbouring occupiers include Bob & Berts, The Bank of Scotland, Waterstones, Next, New Look, Santander Bank, Mountain Warehouse and Oliver Bonas
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