Joint agents Shepherd and Graham + Sibbald sell multi-let retail and office investment opportunity in Inverness
Joint agents Shepherd Chartered Surveyors and Graham + Sibbald have sold a multi-let retail and office investment opportunity in Inverness for £1.7 million to a local investor. Whilst the building is income producing, it also offers redevelopment opportunities and reaffirms the buoyant investment market, continuing the revolution of the area around Church Street.
Positioned on the east side of Church Street on a prominent corner position with Baron Taylor’s Street close to High Street/Bridge Street within Inverness city centre, the 12,390 sq ft property is a short walking distance from all city centre amenities, including the railway station, bus station and the Eastgate Shopping Centre.
The ground floor of the four-storey and basement building comprises a parade of retail units with basement storage and glazed frontage onto Church Street with the upper three floors comprising modern offices. The building currently generates a total rental income of £207,880 pa.
Sandy Rennie, partner in the Inverness office of Shepherd Chartered Surveyors, said: “This sale represents another large disposal in the Inverness market and confirms the city’s burgeoning reputation as a desirable location for investors.
“Indeed, this building is situated directly opposite the former Bridge House building which we recently sold to hotel development company Patio Hotels (Aberdeen), which intends to redevelop the building into a 4-star hotel.
“And this latest sale confirms the attraction of the city’s Church Street area to the buoyant leisure and hospitality sector, following, as it does, our recent sale of the nearby McEwen’s of Perth building to Bar Revolution.”
For further information please contact Sandy Rennie at Shepherd on tel 01463 712239 or John MacBean at Graham + Sibbald on tel 01463 701894
Issued on behalf of Shepherd by Liquorice Media tel 0187 738 2961 www.liquorice-media.com
Date 14 February 2018