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Property: 7-17 UNION STREET& 33-41 BARON TAYLOR STREET, INVERNESS


7-17 UNION STREET& 33-41 BARON TAYLOR STREET, INVERNESS

SOLD

HIGH YIELDING RETAIL INVESTMENT

  • £1.7m (net of costs at 5.73%)

  • Initial Yield of 11.29%

  • Reversionary Yield of 11.96%

  • Low Capital Value of £46.33 per square foot

ASSET MANAGEMENT OPPORTUNITIES 

  • Basement and 2nd floor accomodation capable of being sold separately.
  • Vacant floors are prepared to shell condition along with two brand new lifts and fire escapes.
  • There are alternative use development opportunities for the upper elements.
  • Enquiries suggest there is scope to re-gear the leases prior to expiry.
  • The property is Grade B Listed and therefore, benefits from 100% rates relief on any vacant space.


More Information:
Mix of recognised national covenants.
All three tenants trade strongly from the location.
Situated close to the train station, prime shopping pitch and the Eastgate Centre
Streetscape recently upgraded to provide 3 separate bus stops, increasing footfall markedly.
Average un-expired term equates to 7 years (Break/Expiries in 3 & 9 years).
Rent Passing - £203,000pa

Map: