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Agent's details

15 South Methven Street

For sale: £240,000.00|821 Sq Ft|General Retail, Retail

Property details

FOR SALE£240,000.00
SIZE821 Sq Ft
ADDRESS15 South Methven Street, Perth, PH1 5PE
TYPEGeneral Retail, Retail
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON23rd May 2022


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%
  • Summary

    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%


    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.


    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.


    Location: 15 South Methven Street, Perth, PH1 5PE

    Perth (0.4 miles)

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