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15 South Methven Street

Perth, PH1 5PE

15 South Methven Street, Perth, Retail For Sale - EXTERNAL.jpeg
15 South Methven Street, Perth, Retail For Sale - Internal.png
15 South Methven Street, Perth, Retail For Sale - EXTERNAL.jpeg
15 South Methven Street, Perth, Retail For Sale - Internal.png
Property Type Retail
Tenure For Sale
Size 821 sq ft
Price Offers in excess of £240,000.00
Energy Performance Rating This property has been set as EPC exempt.
Reason: EPC has been commissioned, will be available in less than 28 days

VAT Free Retail Investment | 4.5 years unexpired | Let to Paddy Power | Passing rent of £22,500 pa | o/o £240,000 = NIY 9.18%

Key Points

  • Let to Power Leisure Bookmakers Ltd t/a Paddy Power | Credit Safe "A" Rating
  • Shareholders funds of £1,614,087,000
  • Lease expiry in September 2029
  • Tenant did not exercise their break in 2022 demonstrating commitment to the site
  • Passing rent of £22,500 pa - Open Market Rent Review in 2024
  • Tenant break in September 2026 with 6 month penalty if exercised
  • Full FRI lease, no schedule of condition
  • Offers over £240,000 = NIY 9.18%

Description

Mid-terraced ground floor retail premises forming part of a larger blonde sandstone building where the upper floors are in residential use.

Externally benefits from aluminium framed shopfront with adjacent pedestrian access door.

Internally provides open plan accommodation with public front area complete with staff / customer toilets and kitchen tea prep to the rear.

Available area

The accommodation comprises of the following

Name sq ft sq m Availability
Ground 821 76.27 Available
Total 821 76.27

Location

Located within the city of Perth with a catchment population in excess of 120,900 people.

More specifically the subject property is located within the heart of Perth city centre on the west side of South Methven Street between its junctions with High Street and Mill Street.

South Methven Street is a busy local pitch where neighbouring occupiers include Johnsons The Cleaners, Perth Dental Care, Pizza Express and Marians of Perth Ladies Clothing.