The premises comprise the whole building arranged over six f loors and we have been advised by our clients the floor areas
Location
Perth is located in the heart of central Scotland situated on the banks of the River Tay. The city benefits from a resident population in the order of 48,000 and draws on a substantially wider catchment. Often referred to as “the gateway to the highlands” given its geographical location, Perth acts as the main retail centre for the wider Perth & Kinross council district and successfully gained ‘City status’ in 2012. The city over recent years has diversified into insurance and banking and is also well known for its impressive culinary scene. The subject property occupies a dominant prime corner location at the junction of High Street and King Edward Street in the heart of Perth town centre. Located close to the entrance to St John’s Shopping Centre, nearby tenants include: Primark, Next, New Look and WH Smith.
The property is also located diagonally opposite the redevelopment of the former Perth Town Hall. This exciting project will create a major new cultural attraction located in the heart of Perth Town Centre. At an estimated cost of £26.5m and a completion date of 2024, this will be a major new venue for Perth housing its own museum as well as showcasing travelling exhibitions from elsewhere in the UK and abroad. There will also be learning and community services for local residents.
Accommodation
Ground Floor 12,945 sq ft
Basement 4,142 sq ft
First 13,491 sq ft
Second 13,124 sq ft
Third 11,601 sq ft
Fourth 11,601 sq ft
Total 58,932 sq ft
Terms
Price/Rent On application.
Lease Terms The premises are available on a new full repairing and insuring lease. Offers are also invited for a split of the unit. See example layouts overleaf.
Planning The site is located within Perth City Centre and is promoted for Town Centre uses under policy 10 in the adopted Local Development Plan (2019). This policy primarily supports Class 1 retail uses. Interested parties are advised to make their own enquiries with the Planning Department with regards to alternative uses.
Rates The premises are entered into the 2017 Valuation Roll as follows: Rateable Value Commercial Rate Poundage £326,000 £0.516 (Exclusive of water and sewerage rates)
Legal Costs Each party will be responsible for their own legal costs incurred in connection with this transaction. For the avoidance of doubt, the ingoing tenant will be responsible for Land and Buildings Transaction Tax (LBTT), registration dues and any VAT payable thereon.
EPC A copy of the EPC and Recommendation Report can be provided on request.