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Description

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

INCOME PRODUCING INVESTMENT*** Ground Floor Retail Unit 2,502sq ft Rarely Available Healthcare Investment in Town Centre Location Let to Specsavers on a FRIL with 4 years unexpired at £15,000pa

The property is let to Specsavers Optical Superstores Limited on a FRI lease which has been extended to 12th August 2030. The current rental income is £15,000 per annum, exclusive of VAT

At ground floor level the property provides an open plan sales area, consultation rooms and staff ancillary facilities. Total 2,502sq ft

PRIME INVESTMENT PROPERTY in excellent trading position **PERFECT ADDITION TO ANY PORTFOLIO** SUPER TRADING POSITION *** Rental £15,000 PER ANNUM

EXCELLENT LOCATION Commercial Street is the main shopping area within the town which connects directly to the main A969 road.

INCOME PRODUCING INVESTMENT*** Ground Floor Retail Unit 2,502sq ft Rarely Available Healthcare Investment in Town Centre Location Let to Specsavers on a FRIL with 4 years unexpired at £15,000pa The property is let to Specsavers Optical Superstores Limited on a FRI lease which has been extended to 12th August 2030. The current rental income is £15,000 per annum, exclusive of VAT At ground floor level the property provides an open plan sales area, consultation rooms and staff ancillary facilities. Total 2,502sq ft PRIME INVESTMENT PROPERTY in excellent trading position **PERFECT ADDITION TO ANY PORTFOLIO** SUPER TRADING POSITION *** Rental £15,000 PER ANNUM EXCELLENT LOCATION Commercial Street is the main shopping area within the town which connects directly to the main A969 road.

The subject property is prominently located on the attractive stone flag-paved Commercial Street with return frontage to the pedestrian lane to the side of the building leading down to the Esplanade. Shetland is around 110 miles north of mainland Scotland, covering an area of approx. 567 square miles and has a coastline of around 1,679 miles long. Lerwick is the capital and largest settlement on Shetland with a population of approximately 7,000 people (2011 Census). Lerwick is served by Tingwall Airport located a few miles away and Sumburgh Airport some 25 miles to the the south which operates flights all year to mainland destinations including Aberdeen, Edinburgh, Glasgow and Inverness as well as Kirkwall. Northlink Ferries operate a daily overnight ferry service between Lerwick and Aberdeen, regularly calling in to Kirkwall in the Orkney Islands. The Shetland Islands Council operate a ro-ro ferry service to Out Skerries and Bressay from a terminal in the centre of the town. The local bus service is provided by the Regional Transport Partnership (ZetTrans) and is operated by a number of different local bus service operators.

Full Address: 108 Commercial Street, Specsavers, Lerwick, Shetland, ZE1 0EX

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Map & Location

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Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 4 Years
Rent: £15,000 per year / £1,250 per month
Yield: 10% (approx)
Tenant: Company
Notes: The property is let to Specsavers Optical Superstores Limited on a FRI lease which has been extended to 12th August 2030. The current rental income is £15,000 per annum, exclusive of VAT

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Pricing Information & Bidding

Opening Bid: £149,000

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SPECIAL Terms of Sale

  • 10% Deposit (Minimum £3,000)
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
  • 4 Weeks Completion or Longer By Agreement
  • Contribution to Sellers Costs £2,750 for on time settlement

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* If no Special Conditions of Sale are present in the legal docs download bidders are advised to request a copy by email prior to bidding.

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Auction Details

Date & Time: 09 July 2026, 10am-3pm
Type: Timed Online Auction

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