8 Fleshers Vennel, Perth, PH2 8PF

Description

An opportunity to acquire a retail / office unit in the heart of Perth City Centre with a tenant. The unit is located next to the Perth Museum and is described as an attractive-sized unit with rental income of £4,000 per annum. It is within a two-storey building of traditional stone and slate construction. The property could potentially suit redevelopment for a variety of commercial uses or residential development, subject to planning and discussions with Perth & Kinross Council.

Accommodation

Attractive-sized Unit Number 8 measuring 419 sq ft.

Location

Located on Fleshers Vennel, a popular pedestrian thoroughfare between South Street and St Johns Place, leading to Perth City Hall in the centre of Perth. The property is next to Perth Museum and close to Perth Art Gallery, Perth Theatre & Concert Hall, River Tay Public Art Trail, Perth Playhouse and North Inch Parkland. Perth has excellent transport links to Glasgow, Edinburgh, Dundee and Aberdeen.

Tenure / Property Information

Investment Analysis

The £40,000 guide implies a 10.0% gross yield against the stated £4,000 annual rental income, before the unspecified Buyer’s Premium and other costs. No completed sales, external rental comparables or formal valuation evidence were supplied. The unit is tenanted, but lease terms, tenant covenant, rent verification and remaining term are unavailable. Redevelopment potential is unquantified and subject to planning and discussions with Perth & Kinross Council.

Investment Snapshot

Strategy Recommendation

Consider only as an income-led commercial acquisition after verifying the tenancy, lease, rent and legal pack. Do not rely on redevelopment or residential conversion potential without planning and cost evidence.

Works Required

No specific refurbishment works are evidenced. Confirm the unit’s condition, services and compliance requirements. Any commercial or residential redevelopment would require feasibility work and planning discussions with Perth & Kinross Council.

Rental & Market Context

Potential BRRR Position

BRRR cannot be reliably underwritten. No GDV, refurbishment budget, refinance valuation, lease information or residential conversion evidence is supplied. The stated redevelopment potential is subject to planning and should not be treated as an established exit value.

Buy-to-Let Analysis

At the guide price, the stated £4,000 annual rental income equates to a 10.0% gross yield before the Buyer’s Premium, other acquisition costs, operating costs, voids and finance. This is only an indicative calculation because no lease, rent schedule or independent rental evidence was supplied. Net yield and tenancy security cannot be established.

Flip Analysis

A flip analysis is unsupported because no completed sales, GDV, works budget, selling allowance or planning consent evidence was supplied. The unit’s commercial/residential redevelopment potential remains speculative.

Investor Risks & Due Diligence

• Lease terms and tenant covenant are not supplied.

• The stated £4,000 annual rental income is not independently supported by a lease or passing-rent evidence.

• Buyer’s Premium and any additional acquisition costs are unspecified.

• No condition, compliance or services information is supplied.

• Commercial or residential redevelopment is subject to planning and discussions with Perth & Kinross Council.

• No completed sales or sufficiently specific external rental comparables were supplied.

Recommendation

Consider only as an income-led commercial acquisition after verifying the tenancy, lease, rent and legal pack. Do not rely on redevelopment or residential conversion potential without planning and cost evidence.

Strategy Rating

Analysis Confidence

The guide price, unit size, occupancy description and stated annual rental income are supplied, but lease terms, fees, condition, comparables, GDV, planning position and refurbishment costs are absent.