• New 10 FRI year lease from November 2017, without breaks

• Secure Income - let to Sally Salon Services Ltd - Shareholders’ Funds £36.3m, Pre-Tax Profits £5.6m

• Prominent retailing pitch within the heart of Perth City Centre

• Annual rent of £39,500 per annum (£24.73 per sq ft Zone A)

• Offers in excess of £530,000, subject to contract

• 7.13% Net initial yield

The subjects are prominently located within the city centre on busy South Street, which is one of the main retail routes/thoroughfares in the city. The property occupies a prominent corner location in close proximity to one of the main entrances of St. John’s Shopping Centre. Surrounding occupiers comprise a mix of local and national retailers including Tesco, Baynes Bakers, Greggs, Ladbrokes, Oxfam, Rogerson Fine Footwear and the Royal Bank of Scotland.

The subjects comprise a recently refurbished retail unit arranged over the ground floor only of a substantial brickwork building with the majority of the upper floors in separate residential use.

The subjects until recently comprised part of a larger building on ground floor, where the adjoining subdivided space is currently under refurbishment for the creation of a new retail unit with fully glazed frontage. This property will be leased or sold separately.

Internally, the premises comprise regular open plan sales space with storage and staff facilities to the rear. The unit has been fitted out to a very high standard including new flooring, ceilings, lighting and air conditioning.

Heritable (Scottish equivalent of English freehold).

The property is let to Sally Salon Services Ltd (Co No 1060763) on a new Full Repairing and Insuring lease for a period of 10 years with effect from 2nd November 2017. There is provision for an upwards only open market rent review on 2nd November 2022.

The initial rent is £39,500 per annum. This reflects a Zone A rate of £24.73 per sq. ft. and an overall rate of only £14.98 per sq. ft.

The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

We are instructed to seek offers in excess of £530,000 (Five hundred and thirty thousand pounds), subject to contract, which reflects a net initial yield of 7.13%, after allowing for standard purchasers costs of 4.46%.