Summary - 15, SOUTH METHVEN STREET PH1 5PE
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- Prime high street retail unit in city center
- Established tenant: Power Leisure Bookmakers Ltd t/a Paddy Power
- Solid financial standing with "A" Credit Safe rating
- Lease expiring September 2029 with open market rent review in 2024
- Passing rent of £22,500 per annum; NIY of 9.18%
- Excellent visibility and foot traffic on bustling South Methven Street
- Surrounded by popular neighboring businesses
- Freehold tenure providing investment stability
**Summary:**
Discover an excellent investment opportunity with this mid-terraced ground floor retail unit located at 15 South Methven Street, Perth. With an established tenant, Paddy Power, in place until September 2029, this prime location boasts high foot traffic and visibility, making it ideal for retail operations. The space features an inviting shopfront with seamless pedestrian access and an open-plan layout that includes staff/customer toilets and a rear kitchen area.
This retail property, set within an attractive sandstone building, benefits from a solid passing rent of £22,500 per annum, with an impending market rent review in 2024 potentially enhancing rental income. The current lease does have a tenant break option in September 2026, with conditions, yet the tenant demonstrated commitment by not exercising a break last year. This property presents a unique blend of stability and growth potential, making it suitable for investors looking for a reliable asset in a vibrant location. Don't miss out on this lucrative opportunity!
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