INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet

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INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet
INVESTMENT FOR SALE
 B R O I C H R O A D , C R I E F F, P H 7 3 S B
INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet
INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet
INVESTMENT SUMMARY
 • Opportunity to acquire a 22,000 sq ft retail warehouse unit with
   accompanying 7,500 sq ft garden centre, which is currently under
   construction, in the affluent Perthshire town of Crieff

 • PC – July 2021

 • Letting documented with B&M Retail Limited for 15 years. B&M Retail
   Limited have a D&B rating of 5A1

 • Adjacent to the site is a 20,000 sq ft Aldi supermarket, which opened in 2019

 • There is unimplemented planning permission for a further 8,500 sq ft retail
   unit next to the Aldi

 • New residential development (subject to planning) immediately to the north
   of the site

 • Contracted rent of £308,000 pa which equates to a rate of £14 per sq ft

 • The rent will be reviewed every 5 years on an upwards only basis, to open
   market rental value, capped at 12%

 • B&M operated as an essential retailer during the recent Government
   lockdowns

Offers in excess of £4,283,000 (Four Million Two Hundred and Eighty Three Thousand Pounds) exclusive of VAT,
reflecting a Net Initial Yield of 6.75%, assuming standard purchaser’s costs and LBTT.
INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet
LOCATION
• Crieff is a popular market town located in Perthshire. The town is located approximately 17 miles to the west of Perth and 22 miles
  north of Stirling. It is the second largest town in Perth & Kinross.

• The A85 provides links to the A9 / M90 motorway networks, offering key transport links to Edinburgh and Glasgow to the south and
  Inverness and Aberdeen to the north.

• The site fronts onto both Duchlage Road and Broich Road, in close proximity to the new Crieff High School campus.

• The town has a resident population in excess of 7,300 people and is a popular tourist destination. The transient population is far
  greater with over 2.3m tourists visiting the Perthshire area each year.

DESCRIPTION
• New development of a stand alone retail warehouse totalling 22,000 sq ft with an additional 7,500 sq ft garden centre.

• The building will be of steel frame construction with a traditional block cavity walling and insulated cladding panels.

• The development is set on 1.91 acres (0.77 ha) and will provide a minimum of 75 car parking spaces.

• The northern part of the site (which is not included in the sale) is subject to a planning application for approximately 35 new homes.

PLANNING
• The unit and garden centre have planning consent for Class 1 retail within the Schedule of the Town and Country Planning (Use
  Classes) (Scotland) Order 1997
INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet
INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet
TENANCY & COVENANT

Tenancy

A new 15 year FRI lease with no breaks to B&M Retail Limited. The initial passing rent is £308,000 per annum (£14.00 per sq ft) which will be reviewed every
5 years on an upwards only basis to the greater of OMV or the rent payable immediately before the review, subject to a cap of 12%. The tenant will benefit
from 6 months rent free upon taking occupation.

B&M Retail Limited

B & M Retail Limited is one of the UK’s largest and most successful retailers. Formed in 1978, they have expanded rapidly in recent years and now have
over 600 stores across the UK, employing over 28,000 people.

                                                             Profit (pre      Net Tangible
 B&M Retail Limited                  Turnover (000)          taxation)          Assets
                                                               (000)              (000)

 2020                                  £3,148,497             £262,360         £1,782,874

 2019                                  £2,801,499             £273,406          £839,035

 2018                                  £2,629,145             £236,006          £680,479
INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet
VAT
The property has been elected for VAT and therefore VAT will be
applicable on the purchase price. However, it is anticipated that the sale
will be treated by way of a Transfer of Going Concern (TOGC).

PROPOSAL
We are seeking offers in excess of £4,283,000 (Four Million Two Hundred
and Eighty Three Thousand Pounds) exclusive of VAT. A purchase at this
level would reflect a Net Initial Yield of 6.75% assuming actual purchaser’s
costs.

CONTACT
For further information please contact the below:

Dominic Walton                                    Alasdair M Steele                                    Stewart Sheridan                                Graeme Millar
M - 07818 041 670                                 M – 07808 479 333                                    M – 07740 940 898              M – 07523 512 804
Dominic.walton@knightfrank.com                    Alasdair.steele@knightfrank.com                      Stewart@sheridanproperty.co.uk Graeme@sheridanproperty.co.uk

 Important notice. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in
 writing (“information”) as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP has any authority to make any representations about the property, and
 accordingly any information given is entirely without responsibility on the part of the agents, seller (s) or lessor (s). Photos etc: The photographs show only certain parts of the property as they
 appeared at the time they were taken. Areas, measurements and distances given are approximate only. Regulations etc: Any reference to alterations to, or use of, any part of the property does
 not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been
 properly dealt with and all that information is correct. VAT: The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in
 England with registered number OC305934. Our registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members' names. March 2021.
INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet INVESTMENT FOR SALE BROICH ROAD, CRIEFF, PH7 3SB - LoopNet
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