Town Centre Location
Ground Floor
Well Established Trading location
Held on F.R.I Lease
Expiring July 2032
Passing £5,000p.a
V.A.T. Free
Price: £60,000
Location
The property is situated on a prime position within Nairn’s town centre. Nairn is located 17 miles to the east of Inverness in Highland Scotland. The town has a population of approximately 10,000 people and lies on the A96 trunk road which links Aberdeen with Inverness.
Property
The property comprises ground floor commercial unit set with a larger development of traditional sandstone construction surmounted by a pitched roof.
The property offers a single display window frontage with partially recessed entrance door accessible from street level. Internally the property offers on open plan retailing space with partitions erected to form private consultation room and WC facility to the rear.
Area
65.86sqm (709sq ft)
Lease Summary
The property is held on an F.R.I Lease to Duncan & Todd Ltd expiring 3rd July 2032 with a passing annual rent of £5,000per annum. We understand there are no provisions for tenant break options.
Further: Duncan & Todd Ltd are part of the larger Duncan & Todd Group operating Optical and Hearing clinics across Scotland. The group operate 43 units across Scotland employing over 370 staff with brands including; 20/20 Opticians, Duncan & Todd, Browns Opticians, James Hughes amongst others. For the financial year ending 31st March 2024, Duncan & Todd Ltd reported an annual turnover of £27.579m with gross profit of £18.9m showing a 12% increase on the previous year.
Sale
The property is available on a freehold basis for £60,000
VAT
We have been advised the transaction will not attract V.A.T.
Legal
Each party shall bear their own legal course incurred in the transaction
Viewing
While it is a good idea to visit a property investment that has been marketed for sale as a customer before making a formal viewing. It is vitally important that such visits are confidentially and no approaches to be 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
TSA Property Consultants are regulated by HMRC in its compliance with the UK Money Laundering under the 5th Directive of the Money Laundering Regulations, effective from 10th January 2020, the agents are required to undertake due diligence on interested parties.