54-56 High Street, Inverness , IV1 1JE
£880,000.00
Ref No. JLLATC76336
For Sale, Investment

Location 54-56 High Street, Inverness, Inverness , IV1 1JE, Inverness-shire, Scotland

Description

Prime retail investment in the heart of Inverness City Centre

Inverness is the retail, commercial and administrative capital of the Scottish Highlands and Islands

Exceptionally strong tourist industry attracting around 1.6 million visitors a year

100% prime location on the pedestrianised section of the High Street, close to the Eastgate Shopping Centre

Nearby occupiers include M&S, HSBC, WH Smith, Royal Bank of Scotland, Clarks, Lush, Superdrug, Specsavers, Boots and Mountain Warehouse

Let to Nero Holdings Ltd (t/a Caff e Nero) who have a Credit Safe Score of 95/100 - ‘Very Low Risk’ of default

Full Repairing and Insuring Lease expiring 8 February 2025 (7.9 years unexpired)

Current rent of £65,000 per annum, which has been re-based and equates to a Zone A rate of
£44.00 per sq ft

Category A listed

Heritable Interest (Scottish Equivalent of English Freehold)

Offers are sought in excess of £880,000 (Eight Hundred and Eighty Thousand Pounds Sterling), reflecting an attractive net initial yield of 7.02%, assuming purchaser’s costs based on Land and Buildings Transaction Tax of 5.19%

Property Type Retail - High Street

Tenure Freehold

Initial Yield 7.02%

Property Contacts:

  • Alexander Fraser
    +44 (0)141 611 8529
  • Charlie McNaught +44 (0)141 567 6612
Property Location:



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a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
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