Shepherd Chartered Surveyors and Burns and Partners are offering an attractive retail and office investment in Inverness for sale....
The 1550 sq ft property occupies a prominent position on Strothers Lane, adjoining Farraline Park Bus Terminus, a busy retail thoroughfare linking in between Academy Street and Railway Terrace and connecting to the A82 Longman Road. There are two car parks nearby which provide around 1000 spaces.
The modern ground floor unit provides open plan accommodation with ancillary staff and toilet facilities. The accommodation is used as an office for staff and volunteers as well as providing advice, information and support to the Armed Forces and Veterans community.
The unit enjoys glazed frontage on either side of a recessed glazed entrance door on Strothers Lane and forms part of a larger development comprising over 17,000 sq ft of commercial accommodation at street level with 54 residential apartments on the upper floors.
The property is currently occupied under lease to The Earl Haig Fund trading as Poppy Scotland on a 10 year lease until 2023. The lease is subject to a tenant only break option at the end of year five, with a five month penalty to be paid should the break option be exercised.
The current passing rent is set at £23,500 per annum with an upwards only open market rent review due in March 2018.
Neil Calder, senior surveyor at Shepherd’s Inverness office, said: “Offering an attractive unit in a prominent city centre location, we anticipate keen interest in this rarely available opportunity.”
The property is available to purchase at offers over £325,000. A purchase at this level represents an attractive net initial yield of 7%. Interested parties should contact the joint selling agents on tel 01463 712239 or 0131 228 4466.
For further information please contact Neil Calder on tel 01463 712239 or Chris Paterson on tel 0131 228 4466
Issued on behalf of Shepherd by Liquorice Media tel 0141 297 1699
Date: 27th November 2015