Substantial Town Centre Building
Multi-Let Investment
Future Residential Development
Passing Rent: £63,900p.a.x
Potential Rent: £73,500p.a.x
Price: £565,000
Location
The property is situated on the south side of Union Street at it’s junction with Academy Street within Inverness City centre.
The city benefits from excellent communication links by rail, air and road. The city has access from the south by way of the A9 which links to Perth and the Scottish motorway network and also
benefits from a frequent rail services to the Scottish cities. The city has an extensive catchment area in excess of 25,900sq km (10,000sq miles) with a catchment population of approximately 476,500 people. The city has also developed into a major tourist and retail centre with an estimated 1.6 million tourists per year. Neighbouring occupiers include Virgin Money, Timpsons, Blacks, Rohan, Barclays and Ladbrokes.
Property
The property comprises a substantial 3 storey traditional sandstone development surmounted by a mansard roof overlaid in slate.
The development benefits from multiple tenancies, with 2 retail units at ground floor and multiple tenancies at upper floors.
Entrance to the upper floors is gained via a dual controlled entrance doors at street level via Union Street. Internally a staircase leads to first and second floors with offices suites accessed from a central corridor.
The ground floor offers 2 commercial units, one operating as a barber shop, with open plan shop area to the front, and partition erected to form a w.c and tea prep at the rear.
At the junction of Academy Street and Union St, 1 Union Street benefits from a large return frontage, with large display windows. The property is primarily open plan in nature with rear store, w.c’s, tea prep and private office.
Price
The property is available on a freehold basis for £565,000
V.A.T
The property has been elected for V.A.T as such the transaction will he treated as a transfer of a going concern (ToGC)
Lease & Title
Available on request
Legals
Each party shall bear their own legal costs incurred in the transaction
E.P.C
Available on request
Viewing
Whilst it is a good idea to visit a property investment that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business.
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.