Optical Express, Highland House St Catherine's Road Perth Scotland PH1 5YA

Optical Express, Highland House
St Catherine's Road
Perth
Scotland
PH1 5YA

High Yielding Heritable Retail Investment

Entirely let to Optical Express Limited
Predominantly used for eye surgery (opens periodically)
Lease expires November 2031 (subject to option) (3)
Opposite St Catherine's Retail & Leisure Park where retailers include TK Maxx, The Food Warehouse by Iceland, Costa Coffee, Halfords, Home Bargains, Tim Hortons and KFC

Lot
42
Auction
30th March 2023
Rent
£16,000 per Annum Exclusive
(4)
Status
Withdrawn Post
Price
Auction Venue
Live Streamed Auction

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High Yielding Heritable Retail Investment

Entirely let to Optical Express Limited
Predominantly used for eye surgery (opens periodically)
Lease expires November 2031 (subject to option) (3)
Opposite St Catherine's Retail & Leisure Park where retailers include TK Maxx, The Food Warehouse by Iceland, Costa Coffee, Halfords, Home Bargains, Tim Hortons and KFC

Lot 42
Auction 30th March 2023
Rent £16,000 per Annum Exclusive (4)
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 43 miles north of Edinburgh, 63 miles north-east of Glasgow
Roads: A9, A85, A90, M90
Rail: Perth Train Station
Air: Edinburgh Airport

Situation

Perth is located in the heart of Scotland being 43 miles north of Edinburgh and 63 miles north-east of Glasgow, and boasts excellent communication links via the A9, A85 and A90. The property is located just off the busy thoroughfare of Dunkeld Road and is opposite St Catherine's Retail & Leisure Park where retailers include TK Maxx, The Food Warehouse by Iceland, Costa Coffee, Halfords, Home Bargains, Tim Hortons and KFC

Tenure

Heritable. (Scottish Equivalent of Freehold).

Location

Miles: 43 miles north of Edinburgh, 63 miles north-east of Glasgow
Roads: A9, A85, A90, M90
Rail: Perth Train Station
Air: Edinburgh Airport

Situation

Tenure

Heritable. (Scottish Equivalent of Freehold).

Description

The property comprises a ground floor shop, forming part of a larger building.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

The property comprises a ground floor shop, forming part of a larger building.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m (1)	Floor Areas Approx sq ft (1)	Tenant	Term	Rent p.a.x.
Ground	Retail/Ancillary	130.06	(1,400)	OPTICAL EXPRESS LIMITED (t/a Optical Express) (2)	10 years from 22/11/2021 (3)	£16,000 (4)
Total		130.06	(1,400)			£16,000 (4)

(1) Areas provided by Scottish Assessors Association (www.saa.gov.uk)
(2) For the year ending 1st January 2022, Optical Express Limited reported a turnover of £120,978,000, a pre-tax profit of £40,011,000 and a net worth of £16,694,000 (www.northrow.com)
(3) The lease is subject to a tenant only option to determine on 22/11/2026
(4) The tenant is currently paying half rent until 22/08/2024, after which the rent will rise to £16,000 pax. The Seller will pay the Buyer the total rent that would have been due from Completion of the sale until 22/08/2024.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.