Tenanted Commercial Property LOT 210

70-71 High Street, Dingwall, IV15 9RY
OPENING BID

Timed Online Auction

02 June 2022, 10am-3pm

Bidding Closes in

View Live Online Auction Submit Offer Now
  • TypeCommercial
  • Ownership Freehold
  • Occupation Tenanted
  • Rateable Value Search SAA

Description

Full Address: 70-71 High Street, Dingwall, IV15 9RY

Investment Opportunity. Original Factory Shop Investment located on the High street of the affluent Dingwall.Passing Rent: 24,500p.a (Rebased From 47,000p.a.). Attractive Yield with potential growth

RENT WAS PREVIOUSLY 47,000 and has been reduced to 24,500 with the lease extended until September 2024. Sure to appeal to Investors looking for an attractive investment in sought after area.

LARGE PREMISES: Ground: 415.59sqm (4,473sq ft) 1st: 344.51sqm (3,708sq ft) Total: 760.1sqm ( 8,181sq ft)

***VAT FREE PROPERTY NO VAT APPICABLE*** Property benefits from great passing trade on the high street along with double Frontage display windows. Excellent size property.

Market rent 35-37,000 pa, so rent likely to increase significantly at rent review. Neighbouring occupiers include The Edinburgh Wooden Mill, Sweet Treats, MP Constituency Office and The Red Cross.

Investment Opportunity. Original Factory Shop Investment located on the High street of the affluent Dingwall.Passing Rent: 24,500p.a (Rebased From 47,000p.a.). Attractive Yield with potential growth. LARGE PREMISES: Ground: 415.59sqm (4,473sq ft) 1st: 344.51sqm (3,708sq ft) Total: 760.1sqm ( 8,181sq ft) Market rent 35-37,000 pa, so rent likely to increase significantly at rent review in couple of years. ***VAT FREE PROPERTY NO VAT APPICABLE*** The property comprises a substantial 2 storey commercial development of steel framed construction rendered in brick surmounted by a flat roof overlaid in felt. The property benefits from twin display windows flanking the dual double door entrance, all of aluminium framed and glazed construction. Internally the property has been fitted out to a high standard by the tenant, and in accordance with their corporate specifications. Lighting is provided by way of fluorescent strips recessed within the suspended acoustic tile ceiling. Floors have been overlaid in laminated timber and carpet throughout. To the rear of the development, partitions have been erected to form large storage area, office and w.c facilities. The first floor offers further staff facilities, storage and secondary sales area. The property is held on a full repairing and insuring head lease with associated schedule of condition on the following terms. Tenant: The Factory Shop Ltd Expiry: 24th September 2024 Passing Rent: 24,500p.a. (Rebased From 47,000p.a.) Break: 1st July 2023 Property benefits from great passing trade on the high street along with double Frontage display windows. Excellent size property. RENT WAS PREVIOUSLY 47,000 and has been reduced to 24,500 with the lease extended until September 2024. Sure to appeal to Investors looking for an attractive investment in sought after area.

The property is situated on the north side of High Street at its junction with Wardens Lane on the main commercial thoroughfare in the town of Dingwall. Dingwall is a town and a royal burgh in the Highland council area of Scotland. It has a population of 5,491. It was an east-coast harbour that now lies inland. Neighbouring occupiers include The Edinburgh Wooden Mill, Sweet Treats, MP Constituency Office and The Red Cross.

Show More

Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 24th September 2024
Rent: 24,500 per year / 2,042 per month
Yield: 8% (approx)
Tenant: Private Individual
Notes: Tenant: The Factory Shop Ltd Expiry: 24th September 2024 Passing Rent: 24,500p.a. (Rebased From 47,000p.a.) Break: 1st July 2023

Document Downloads

  LEGAL PACK PENDING - Request

Location

Pricing Information & Bidding

Opening Bid: £247,000

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).

How to Bid... To take part in the online auction you must firstly create a bidding account. Once you have a bidding account you can then login and place bids during the auction. Please click on the following link to view the latest Online Auction Bidders Guide now.

View Live Online Auction

Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Submit Offer Now

Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.75% of Sale Price (Minimum £2,750 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 02 June 2022, 10am-3pm
Type: Timed Online Auction

View Full Auction Catalogue

Similar Properties


Lot 47
£49,000 OPENING BID
  • EXCELLENT INVESTMENT OPPORTUNITY WITHIN SOUGHT AFTER HIGHLAND LOCATION. Super sized semi-...
Lot 210
£247,000 OPENING BID
  • Investment Opportunity. Original Factory Shop Investment located on the High street of th...
Lot 268
£30,000 OPENING BID
  • Large retail premises extending to 577sq ft( 53.62 sq m) location in the hart of Campbelt...