Busy summer of property investment in Perthshire and Tayside
Shepherd Chartered Surveyors has sold a number of investment properties across Perthshire and Tayside over the summer months.
Tayforth House has been sold to a private investor for £1.4 million. This 19,670 sq ft modern pavilion style two storey office building has parking for 80 cars upon an open plan landscaped high profile site at the gateway of Dundee Technology Park on the western city fringe.
The property is let in its entirety to international investment management group Aberdeen Standard Investments until 2024, with the accommodation sub-let to BNP Paribas. The current rent is £195,000 per annum.
In Perth, Santé Wine Bar and Restaurant, has been sold to a private investor for £405,000. Sitting directly opposite Perth City Hall in the area known as Perth’s Cafe Quarter. The 2,224 sq ft property is let to Codex Restaurants for 20 years at an annual rent of £37,750, representing a net yield of 9%.
And in Broughty Ferry, a corner terraced, single storey convenience store has been sold for £370,000, representing a net yield of 6.25%. Located in a prime and prominent position on the north side of Brook Street at its junction with Gray Street, the accommodation extends to 765 sq ft. The premises are let to Khalid Farooq until 2028 at an annual rent of £24,000.
Jonathan Reid, partner at Shepherd, said: “These investment property sales throughout Perthshire and Tayside concluded over the summer months, spanning office, restaurant and retail outlets, provides ample evidence of the buoyant level of activity of within the local commercial property sector.”
For further information please contact Jonathan Reid on tel 01738 638188