• NEW 5 YEAR LEASE
• PASSING RENT £9,950 P.A.
• OFFERS IN THE REGION OF £80,000
• 12.5% INITIAL YIELD
• 686 SQ FT
• PROMINENT RETAIL PITCH
Perth is a city in central Scotland, located on the banks of the River Tay. It is the administrative centre of Perth and Kinross council area and the historic county of Perthshire. According to the preliminary 2011 census results Perth, including its immediate suburbs, has a population in the region of 50,000.
The strength of Perth’s economy lies in its diversity, with a balance of large companies, the public sector, a broad range of small and medium-sized enterprises and many self-employed business people. The development in renewable energy, insurance, manufacturing, leisure, health and transport is stimulating employment.
Perth’s city centre is situated to the west of the banks of the River Tay. The pedestrianised portion of the High Street, which runs from the junction of St John Street to Scott Street, is the main focus of the shopping area. The centre has a variety of major and independent retailers.
From a local context the property is situated on the northern side of South Street opposite its junction with Princes Street. Parking is available directly outside the property. South Street is one main arterial roads that runs through the centre of Perth.
The subjects comprise a ground floor mid terraced retail unit contained within a B Listed three storey building of stone construction surmounted by a pitched and slated roof. The shop benefits from a dual glazed frontage with central entrance door.
Internally the subjects provide open plan front retail area, back office/storage area, kitchen and WC facility.
The tenant trading as Hollywood Nails signed a 5 year lease from 30th May 2019 at a rent of £9,950 p.a.
From sizes provided by our client, we understand that the subject property, measured in accordance with the RICS Property Measurement Professional Statement (First Edition, May 2015) incorporating the International Property Measurement Standards and the RICS Code of Measuring Practice to extend to the following approximate net internal area (NIA):
Offers in the region of £80,000 are invited for the Heritable (Scottish equivalent of Freehold) interest.
The property is below the threshold for small business rates relief and as such qualifying occupants may benefit from 100% rates relief. Please contact local rating office for further information.
All queries in relation to redevelopment/ reconfiguration of the subjects should be addressed to Perth Council Planning Department.
A closing date may be set and all interested parties should make a note of interest at the offices of the Sole Agent. We reserve the right to sell or let the property without setting a closing date and we are not obliged to accept the highest or indeed any offer for the sale or lease of the property.
All prices, premiums and rents quoted are exclusive of VAT.
PUBLICATION DATE 18/01/2017
|Price:||Offers in the region of £80,000|
|Address:||43 South Street|
|Property Type:||Retail Investment|