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Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

PRIME COMMERCIAL IN THE HEART OF INVERNESS CITY CENTRE. 2 Shops and 5 office suites generating immediate rental income of £63,900 pa. First floor vacant- potentially over £80,000 p.a WAS SOLD £1.2 m

***FULL BUILDING**** SUPER SIZE- approximately 438.17 sqm (4,716 sq ft) AND LOCATION in busy city centre opposite the main train station. MASSIVE RENTAL INCOME of almost £64,000 per annum.

The upper floors may have potential for residential use, subject to the existing leases and obtaining all the necessary consents. All enquiries should be made with Highland Council Planning Department

PRIME TRADING LOCATION within extremely popular city centre with neighbouring occupiers including Blacks, Virgin Money, M&S Foodhall, Pizza Express and Barclays Bank. FANTASTIC INITIAL YIELD.

The affluent City of Inverness is the main retail and commercial centre for the Scottish Highlands and is regarded as Scotland's fastest growing city following significant investment locally.

PRIME COMMERCIAL INVESTMENT IN THE HEART OF INVERNESS CITY CENTRE. 2 Shops and 5 office suites generating immediate rental income of £63,900 per annum. First floor vacant- potentially over £80,000 p.a. ***FULL BUILDING**** SUPER SIZE- approximately 438.17 sqm (4,716 sq ft) AND LOCATION in busy city centre opposite the main train station. MASSIVE RENTAL INCOME of almost £64,000 per annum. The upper floors may have potential for residential use, subject to the existing leases and obtaining all the necessary consents. All enquiries should be made with Highland Council Planning Department. PRIME TRADING LOCATION within extremely popular city centre with neighbouring occupiers including Blacks, Virgin Money, M&S Foodhall, Pizza Express and Barclays Bank. FANTASTIC INITIAL YIELD with potential for increase. The affluent City of Inverness is the main retail and commercial centre for the Scottish Highlands and is regarded as Scotland's fastest growing city following significant investment locally.

Inverness is an affluent city on Scotland’s northeast coast, where the River Ness meets the Moray Firth. It's the largest city and the cultural capital of the Scottish Highlands. Its Old Town features 19th-century Inverness Cathedral, the mostly 18th-century Old High Church and an indoor Victorian Market selling food, clothing and crafts. The contemporary Inverness Museum and Art Gallery traces local and Highland history.

Full Address: 1-5 Union Street, 7 Unit Commercial Portfolio, Inverness, IV1 1PP

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: various
Rent: £63,900 per year / £5,325 per month
Yield: 13% (approx)
Tenant: Company
Notes: First Floor vacant so potential for significant rent increase.

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Pricing Information & Bidding

Opening Bid: £509,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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SPECIAL Terms of Sale

  • 10% Deposit
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £1,750 for on time settlement

VIEW THE GENERAL TERMS OF SALE which are superseded by any special conditions detailed above.

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Buy Now Price = £565,000

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Auction Details

Date & Time: 16 May 2024, 10am-3pm
Type: Timed Online Auction

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