- No Commission
1&2 Thunderton PlaceFavourite
IV30 1LY Elgin
31,805.00 ft² (2,954.78 m²)
9.50 Initial Yield
•Elgin is the administrative and commercial centre for Moray and lies roughly midway between Inverness and Aberdeen;
•The property is situated in Elgin town centre, in an established retail location just off the High Street on Thunderton Place;
•The property comprises two large town centre retail units extending to a gross internal area of 31,805 sq ft (2,954.7 sq m);
•Currently fully let to TK Maxx and Poundstretcher with a WAULT of 5.56 years;
•Current total passing rent of £235,000 per annum;
•Low passing rent of £6.24 per sq ft on TK Maxx;
•Heritable tenure (Scottish equivalent of English Freehold).
Offers in excess of £2,336,000 are sought for our client's heritable interest in the property, subject to contract and exclusive of VAT. A purchase at this level would provide a net initial yield of 9.50% assuming purchaser's costs at 5.88%.