Ground & First floor office/showroom building (The Pagoda) extending to 4,283 ft with on-site car parking. Located in the prime Longman Industrial Estate of Inverness. GF Vacant/FF Occupied and income producing. May suit various uses, STP. Offers Over: £475,000.
Location
inverness is the commercial, administrative, business and tourism centre for the Highlands and Islands of Scotland. The city is one of the fastest growing in Europe with a resident population of over 65,000 people and a catchment area of approximately 350,000 people. Inverness enjoys excellent transport links via the main A9 trunk road leading both north and south. Aberdeen is approx. 104 miles to the southeast with Edinburgh and Glasgow approximately 157 miles to the south and 170 miles to the southwest respectively. The city has a railway station being the terminus of the Highland main line which connects to the Far North line to Wick and Thurso.
Scotrail operated services run daily to Elgin and Aberdeen as well as Perth, Glasgow and Edinburgh. The Caledonian Sleeper also operates daily to London. Inverness bus station operates regular daily bus services locally, to Inverness airport and to other Scottish cities including Aberdeen, Glasgow and Edinburgh as well as a service to London. The city has an airport with regular UK domestic and European flights and also benefits from a train station Inverness is also home to the Inverness College UHI, the main campus of the University of the Highlands and Islands with a city population of students of approximately 8,500.
Accommodation
Total Floor Area: 398 m² (4,283 ft²)
Terms
PLANNING The property currently has Class 4 (Business) planning use in terms of the Town and Country Planning (Use Classes) (Scotland) Order 1997. The property may suit a range of alternative uses, subject to securing the appropriate planning consent
EPC Details available on request.
SERVICES The property benefits from a gas-fired central heating system. The building is connected to mains supplies gas, electricity, water and drainage.
SALE TERMS VAT The property is available “For Sale” with the benefit of the existing lease over the first floor offices. The ground floor is currently vacant. The property may suit an owner occupier or investor. Offers Over £475,000, exclusive of VAT are invited in respect of our client’s heritable interest (Scottish Equivalent of English Freehold) in the property. In our opinion the reversionary rental value is in the region of £50,000 per annum, which would reflect an attractive reversionary yield of 10.08% after allowing for standard purchaser’s costs. The property is elected for the purposes of VAT.
LEGAL COSTS Each Party will be responsible for their own legal costs incurred in any transaction. In the normal manner, the purchaser will be responsible for LBTT, Registration Dues and VAT thereon.
Specification
- 2-Storey Pagoda Building
- Prime Longman Industrial Estate
- Ground Floor - Vacant
- First Floor – Income Producing
- Total Floor Area: 398 m² (4,283 ft²)
- On-Site Car Parking
- Heritable/Freehold Interest
- May Suit Various Uses, STP
- Offers Over £475,000 Invited