Tenanted Commercial Property LOT 245

13 Princes Street, Perth City Centre, PH2 8NG
OPENING BID

Timed Online Auction

27 January 2022, 10am-3pm

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 13 Princes Street, Perth City Centre, PH2 8NG

** LET INCOME PRODUCING COMMERCIAL INVESTMENT **Prominent Retail Unit with Fantastic Frontage and City Centre Location, Situated in the Beautiful city of Perth. Currently Rented at 6,500 per annum.

The Property is a generous 32 metres squared (344.45 square feet) and has a Rateable Value of 4,701 ***Currently rented to Blazed Smoking on FRI Lease 6,500 per annum

The property benefits from a large glazed display frontage with access via a recessed pedestrian entrance door and trades as Blazed Smoking located in a High Footfall Location.

***High Yielding Investment Opportunity*** Property would provide a gross rental yield of greater than 13% if achieved for Guide price of 50,000. EARLY OFFERS CONSIDERED.

Popular Perth has a selection of local shops, primary and secondary education facilities, social amenities, supermarkets, cinema, sport and recreational amenities including world renowned golf courses

** LET INCOME PRODUCING COMMERCIAL INVESTMENT **Prominent Retail Unit with Fantastic Frontage and City Centre Location, Situated in the Beautiful city of Perth. Currently Rented at 6,500 per annum. The subjects comprise a ground floor retail/commercial unit contained within a 4 storey traditional stone building. The Property is a generous 32 metres squared (344.45 square feet) and has a Rateable Value of 4,701 ***Currently rented to Blazed Smoking on FRI Lease 6,500 per annum. The property benefits from a large glazed display frontage with access via a recessed pedestrian entrance door and trades as Blazed Smoking located in a High Footfall Location. ***High Yielding Investment Opportunity*** Property would provide a gross rental yield of greater than 13% if achieved for Guide price of 50,000. EARLY OFFERS CONSIDERED.

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. More precisely, the subjects occupy a highly visible position on Princes Street. Princes Street acts as a busy arterial route into Perth from Edinburgh/Fife. Neighbouring occupiers include a mix of commercial activity including: retail, restaurants, take-aways and salons.

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: Feb 2023
Rent: 6,500 per year / 542 per month
Yield: 10% (approx)
Tenant: Private Individual
Notes: Lease expiry 4th February 2023 - Trades as Blazed Smoking.

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Location

Pricing Information & Bidding

Opening Bid: £52,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 27 January 2022, 10am-3pm
Type: Timed Online Auction

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