Long FRI lease expiring 2035
Passing rent £30,000 per annum
5 Yearly upwards only rent reviews
Net initial yield 8.39% (including 3.8% purchasers cost)
Basement cellar and stores
Ladies, gents and disabled WC’s
EPC Rating - G
24 George Street is a very well presented restaurant located in the heart of Perth city centre. The property is a former bank building and is Grade B Listed. The front façade of the property is very well presented with Georgian features and Quoins along both sides. The property comprises a large restaurant area with servery, commercial kitchen, additional seating area, ladies, gents and disabled WC's and basement stores. The property was let, the current lease is due to expire in July 2035 and the current passing rent is £30,000 per annum. The business is not for sale. The landlord is marketing his heritable interest in the property subject to the existing registered lease. Offers over £345,000 are sought for the heritable property which offers investors a net initial yield of 8.5% allowing for purchasers costs of 2.2%.