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Offers over £685,000

Overview

RETAIL/RESIDENTIAL

188 HIGH STREET, PERTH

TOTAL GROSS INTERNAL AREA 4,540 sq/ft (422 sq/m).

An excellent opportunity to develop a prime town centre property.

* Central location.

* Shop extending to approximately 1,722 sq/ft with vacant possession.

* Detailed planning permission for conversion of upper floors to 4 apartments

* Building warrant approval

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General

Perth is situated approximately 43 miles north of Edinburgh and 61 miles north of Glasgow. The town had a population of circa 45,000. Perth is located in the very centre of Scotland and benefits from excellent communications with major arterial routes nearby and a main line rail station.

The subjects are located in the centre of Perth and occupy a prominent position at the western end of the High Street. The High Street is the premier shopping thoroughfare in Perth; amenities within walking distance include both the rail and bus station, a large selection of bars and restaurants, Perth Concert Hall, a theatre, cinema and major high street shops.

DESCRIPTION

188 High Street is a stone built building within a terraced block arranged over 3 floors under a pitched slate roof. The ground floor is currently used as a shop and is accessed directly off the High Street, with office and storage space occupying the first and second floors. The total floor area of the shop and the proposed apartments extends to approximately 4,542 sq/ft (421 sq/m). The proposed apartments will be accessed to the rear of the building via the Scott Street public car park. Pedestrian access is also available via the pend to the east of the building.

The retail premises will extend to a sales area of approximately 1,722sq/ft (160.00 sq/m) With a storage area of approximately 183 sq/ft (17 sq/m) nearby occupiers include Millets, JJB Sports, Nationwide Building Society, Costa Coffee, Bang and Olufsen and Specsavers Opticians.

RATING

The subjects are currently entered in the Valuation Roll at:-

Rateable Value £31,000

Note: The subjects will require to be reassessed following completion of the development.

SERVICES

The subjects benefit from connection to mains supplies of electricity, water and drainage.

PLANNING AND DEVELOPMENT

The shop has been allocated Class 1 retail use. Detailed Planning Permission has be granted by Perth and Kinross (ref: 06/01519/FUL) to convert and extend the upper floors of the building to 4 residential apartments. The proposed accommodation for the properties is as follows:

In terms of the Councils current planning policies, no affordable housing contribution is required for development of 4 or less residential units. The subjects may provide scope for further development. However, the subjects are only marketed with the benefit of the existing consent and approvals, all of which will be transferred to the purchaser(s). Offers that are conditional upon a variation of the current consents will not be considered.

PRICE

Our clients seek offers in excess of £685,000 for their feuhold (freehold) interest in the subjects with vacant possession. Our clients are not bound to accept the highest or indeed any offer, and may withdraw the subjects at any time without prejudice.

TECHNICAL INFORMATION PACK

A technical information pack has been prepared, containing a copy of the detailed planning permission, building warrant approval and associated plans.

The technical pack is available to view at the offices of the selling agents. In addition, copies are available to seriously interested parties, however, due to reproduction costs, a charge of £10 plus VAT will be made. A ground investigation report has been carried out and is also available to view at the offices of the selling agents.

VAT

We understand that no election to tax has been made and therefore the purchase price will not be subject to VAT.

VIEWING AND FURTHER INFORMATION

Viewing is by prior appointment only through the selling agents – CKD Galbraith. The person who may accompany you however, may not be an employee of CKD Galbraith.