Perth
Reversionary Retail Investment
FOR SALE 182/184 High Street
Perth
PH11 5AP
• • • • •
Prominent High street trading position Nearby operators include Sainsburys, Costa Coffee and Trespass Passing rent £22,500 Offers over £285,000 7.65% Net Initial Yield
the complete property service
182/184 High Street
Perth
LOCATION 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, which is Scotland’s newest City, 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 motorway network. As such the City benefits from its strategic location with excellent rail and bus services to all of the major cities throughout Scotland and the UK. More precisely, the subjects are positioned on the south side of High Street, close to its junction with Scott Street. Surrounding operators include; Sainsbury, Savers, Starbucks and Costa. The approximate location is shown by the OS Map extract. DESCRIPTION The subjects comprise a ground floor retail unit with first and mezzanine level storage contained within a mid-terraced building of mixed age construction. The property benefits from 2 display windows onto High Street and internally are fairly regular in their configuration. Ample car parking is available on High Street and via the public car park to the rear.
FOR SALE Retail Investment
ACCOMMODATION We have measured the property in accordance with the RICS Code of Measuring Practice 6th edition and calculate the following Net Internal Area. FLOOR
SQ M
SQ FT
Ground
224
2,433
First, including mezz
95
1,022
TOTAL
319
3,433
The subjects have a reduced floor area of 1,031 SQ. FT.
TENANCY LANDLORD
Namulus Pension Trustees Ltd
TENANT
Done Brothers (Cash Betting) Limited t/a Betfred
LEASE TERM
10 years.
DATE OF ENTRY
23rd September 2013
DATE OF EXPIRY
22nd September 2023
RENT REVIEW
5 yearly, upwards only
RENT
£22,500 per annum
BREAK OPTION
23rd September 2018.
REPAIRING OBLIGATION
Full Repairing and Insuring
TENANT COVENANT Done Brothers (Cash Betting) Limited (T/A Betfred) (Company Number 1277703) have a Credit rating of 5A1 (Strongest possible covenant) representing a minimum risk of business failure. RATEABLE VALUE According to the Scottish Assessors Association the subjects have a Rateable Value of £29,500 per annum. Unified Business Rate 2016/2017 is £48.4p. PRICE Offers over £285,000 are invited for our clients heritable interest subject to and with the benefit of the existing lease. A purchase at this level represents an attractive net initial yield of 7.65% after allowing for purchaser costs. EPC Available upon request. VAT The property has been elected for VAT purposes with VAT being payable on the purchase price. We envisage that the sale will be carried out by way of a Transfer of a Going Concern (TOGC) FURTHER VIEWING INFORMATION Strictly by appointment through the Sole Selling Agents: Garth Davison – 01738 445 733 [email protected] Graeme Millar – 0131 225 1559 [email protected] DATE OF PUBLICATION July 2016
PH1 5PA
the complete property service
PERTH
Reversionary Retail Investment
CONTACT: Graham & Sibbald 3 Charlotte Street, PERTH, PH1 5LW Tel: +44 (0)1738 445733 E: [email protected] Aberdeen 01224 625 024 Ayr 01292 271 030 Dundee 01382 200 064 Edinburgh 0131 225 1559 Falkirk 01324 638 377 Glasgow 0141 332 1194 Hamilton 01698 422 500 Inverness 01463 236 977 Kilmarnock 01563 528 000 Kirkcaldy 01592 266 211 Paisley 0141 889 3251 Perth 01738 445 733 Stirling 01786 463 111 Weybridge 01932 260 726
50 metres
Experian Goad Plan Created: 24/06/2016 Created By: Graham Sibbald
IMPORTANT NOTICE Please read carefully 1. These particulars are intended as guide only. Their accuracy is not warranted or guaranteed. Intending Purchasers/Tenants should not rely on these particulars but satisfy themselves by inspection of the property. Photographs only show parts of the property which may have changed since they were taken. 2. Graham & Sibbald have no authority to give any representation other than these particulars in relation to this property. Intending Purchasers/Tenants take the property as they find it. 3. Graham & Sibbald are not authorised to enter into contracts relating to this property. These particulars are not intended to nor shall they form part of any legally enforceable contract and any contract shall only be entered into by way of an exchange of correspondence between our client’s Solicitors and Solicitors acting for the Purchaser/Tenants. 4. All plans based upon Ordnance Survey maps are reproduced with the sanction of Controller of HM Stationery. 5. A list of Partners can be obtained from any of our offices.
FOR SALE 182/184 High Street
Perth
PH11 5AP
• • • • •
Prominent High street trading position Nearby operators include Sainsburys, Costa Coffee and Trespass Passing rent £22,500 Offers over £285,000 7.65% Net Initial Yield
the complete property service
182/184 High Street
Perth
LOCATION 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, which is Scotland’s newest City, 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 motorway network. As such the City benefits from its strategic location with excellent rail and bus services to all of the major cities throughout Scotland and the UK. More precisely, the subjects are positioned on the south side of High Street, close to its junction with Scott Street. Surrounding operators include; Sainsbury, Savers, Starbucks and Costa. The approximate location is shown by the OS Map extract. DESCRIPTION The subjects comprise a ground floor retail unit with first and mezzanine level storage contained within a mid-terraced building of mixed age construction. The property benefits from 2 display windows onto High Street and internally are fairly regular in their configuration. Ample car parking is available on High Street and via the public car park to the rear.
FOR SALE Retail Investment
ACCOMMODATION We have measured the property in accordance with the RICS Code of Measuring Practice 6th edition and calculate the following Net Internal Area. FLOOR
SQ M
SQ FT
Ground
224
2,433
First, including mezz
95
1,022
TOTAL
319
3,433
The subjects have a reduced floor area of 1,031 SQ. FT.
TENANCY LANDLORD
Namulus Pension Trustees Ltd
TENANT
Done Brothers (Cash Betting) Limited t/a Betfred
LEASE TERM
10 years.
DATE OF ENTRY
23rd September 2013
DATE OF EXPIRY
22nd September 2023
RENT REVIEW
5 yearly, upwards only
RENT
£22,500 per annum
BREAK OPTION
23rd September 2018.
REPAIRING OBLIGATION
Full Repairing and Insuring
TENANT COVENANT Done Brothers (Cash Betting) Limited (T/A Betfred) (Company Number 1277703) have a Credit rating of 5A1 (Strongest possible covenant) representing a minimum risk of business failure. RATEABLE VALUE According to the Scottish Assessors Association the subjects have a Rateable Value of £29,500 per annum. Unified Business Rate 2016/2017 is £48.4p. PRICE Offers over £285,000 are invited for our clients heritable interest subject to and with the benefit of the existing lease. A purchase at this level represents an attractive net initial yield of 7.65% after allowing for purchaser costs. EPC Available upon request. VAT The property has been elected for VAT purposes with VAT being payable on the purchase price. We envisage that the sale will be carried out by way of a Transfer of a Going Concern (TOGC) FURTHER VIEWING INFORMATION Strictly by appointment through the Sole Selling Agents: Garth Davison – 01738 445 733 [email protected] Graeme Millar – 0131 225 1559 [email protected] DATE OF PUBLICATION July 2016
PH1 5PA
the complete property service
PERTH
Reversionary Retail Investment
CONTACT: Graham & Sibbald 3 Charlotte Street, PERTH, PH1 5LW Tel: +44 (0)1738 445733 E: [email protected] Aberdeen 01224 625 024 Ayr 01292 271 030 Dundee 01382 200 064 Edinburgh 0131 225 1559 Falkirk 01324 638 377 Glasgow 0141 332 1194 Hamilton 01698 422 500 Inverness 01463 236 977 Kilmarnock 01563 528 000 Kirkcaldy 01592 266 211 Paisley 0141 889 3251 Perth 01738 445 733 Stirling 01786 463 111 Weybridge 01932 260 726
50 metres
Experian Goad Plan Created: 24/06/2016 Created By: Graham Sibbald
IMPORTANT NOTICE Please read carefully 1. These particulars are intended as guide only. Their accuracy is not warranted or guaranteed. Intending Purchasers/Tenants should not rely on these particulars but satisfy themselves by inspection of the property. Photographs only show parts of the property which may have changed since they were taken. 2. Graham & Sibbald have no authority to give any representation other than these particulars in relation to this property. Intending Purchasers/Tenants take the property as they find it. 3. Graham & Sibbald are not authorised to enter into contracts relating to this property. These particulars are not intended to nor shall they form part of any legally enforceable contract and any contract shall only be entered into by way of an exchange of correspondence between our client’s Solicitors and Solicitors acting for the Purchaser/Tenants. 4. All plans based upon Ordnance Survey maps are reproduced with the sanction of Controller of HM Stationery. 5. A list of Partners can be obtained from any of our offices.
