The subjects comprise a traditional 2-storey an attic period style building of traditional stone and slate construction. To the front of the building immediately off Barossa Place is a sizeable mature garden. To the rear of the property off Hay Street is a sizeable car park for circa 25 spaces.
We understand that there is a live planning consent in place which would allow for a 2-storey extension to the main building. The application was approved around 2000. The proposed extension was to provide ground, first and second floor office accommodation or circa 2,700 sqft.
Further information available from the Sole Selling Agents.
Future internal refurbishment works are being planned by the tenant which may indicate their commitment to the property and location.
Upon lease expiry the property would allow for re-development to residential subject to the required consents and warrants. Interested parties should make their own enquires in this regard.
( Agency Pilot Software ref: 52505 )
Location
Perth is located in the heart of central Scotland suited on the banks of the River Tay. The city of Perth has a resident population of approximately 46,000 persons, with the population of the surrounding catchment area estimated to be in the region of 130,000. Perth is situated approximately 20 miles west of Dundee, 40 miles north of Edinburgh and 60 miles north east of Glasgow lying at the hub of Central Scotland’s road network. More precisely, the property is located on Barossa Street within Perth city centre and close to the open parkland of the North Inch. The location of the property is a popular mixed use area with surrounding uses being a mixture of office/business and residential. The subjects location is within easy walking distance to Perth city centre.
Accommodation
Office – Ground 139.00 sqft ( 1,496 sq m )
Office – First 105 sq ft (1,130 sq m )
Attic 16.60 sq ft (178 sq m )
Basement 51.00 sq ft (548 sq m )
Terms
RATEABLE VALUE The subjects have a Net and Rateable Value of £29,700. The unified business rate for the year 2023/2024 is XXX exclusive of water and sewerage rates.
PRICE Offers in the region of £400,000 are invited for the heritable title, subject to the existing lease agreement in place. A purchase at this level represents a NIY of 9.38%. EPC Available upon request.
LEGAL COSTS + VAT Each party to bear their own legal costs associated with this transaction. For the avoidance of doubt, all figures are quoted exclusive of VAT The subjects have been elected for VAT.
It is anticipated that the sale of the property will be treated as a Transfer Of A Going Concern (TOGC) and therefore no VAT will be payable. Interested parties are encouraged to make their own enquiries in this regard
Specification
• INCOME PRODUCING OFFICE BUILDING
• DESIRABLE LOCATION CLOSE TO NORTH INCH
• LET TO CKD GALBRAITH LLP
• LEASE EXPIRY 2030 (Subject to tenant break)