Lismore Real Estate Advisors have advised KFIM on the forward funding of a 27,000 sq ft purpose built supermarket at a site on Perth Road, Pitlochry.
The property will be let to Tesco Stores Limited from practical completion (anticipated October 2025) for a 20-year term. The passing rent will be £517,825 per annum reflecting £19.25 sq ft, subject to CPI-linked rent reviews every 5 years with a cap and collar of 1-3% per annum.
The development benefits from detailed planning consent for a new Class 1 supermarket with 177 customer parking spaces and will target an EPC rating of B. On completion, the store will become Pitlochry’s first and only major supermarket, serving a strong local and tourist catchment.
The opportunity was acquired for £8.665 million reflecting an initial yield of 6.00%.