*INVESTMENT OPPORTUNITY*
DESCRIPTION
The subjects comprise a café/restaurant unit arranged over ground floor and mezzanine levels. The subjects, formerly known as Café Victoria, benefit from a large arched styled frontage to the market and the ability to provide additional covered seating to the front.
Location
LOCATION
The subjects can be found on Queensgate Arcade, which is part of the historic category B listed Inverness Victorian Market. The Victorian Market is a popular indoor shopping centre in Inverness that houses a wide range of independent businesses. The market is accessible from Queensgate, Academy Street, Union Street, or Church Street and consists of several arcades as well as the recently refurbished market hall. Inverness is the Highlands' administrative capital and a popular tourist destination.
Accommodation
ACCOMMODATION
The subjects have been measured on a net internal basis in accordance with the current edition of the RICS Code of Measuring Practice to provide 84.09 sq m (905 sq ft) of accommodation.
Terms
TENANCY INFORMATION
The subjects are currently let to ELS AMICS LTD trading as ‘Café de Paulo’ until 2029 on an internal repairing and insuring (IRI) lease generating £18,500 per annum. There is a rent review in line with market rent due in 2025.
Café de Paulo operate the subjects as a coffee shop providing both sit in, take away and delivery options.
Further tenancy details are available from the selling agents.
SALE
Offers in excess of £200,000 are sought for our client’s interest in the property.
RATEABLE VALUE
According to the Scottish Assessor’s website (www.saa.gov.uk) the subjects have a Rateable Value of £17,750 effective 1st April 2023.
LEGAL COSTS
Each party will be responsible for their own legal costs incurred in the preparation, negotiation and settlement of the documentation pertaining to the lease or sale including LBTT or VAT applicable.
ENTRY
On completion of legal formalities.
VIEWING AND FURTHER INFORMATION
By appointment through the sole agents Allied Surveyors Scotland plc.
Specification
UTILITIES
The property has connections of mains water, electricity and drainage.
ENERGY PERFORMANCE CERTIFICATE
The Energy Performance Certificate rating is ‘G’