26/27/28 HUNTLY STREET, INVERNESS, IV3 5PR

ATTRACTIVE RETAIL/OFFICE INVESTMENTFOR SALE

• Prime Inverness city centre location

• Mixed use investment with income on FRI terms to September 2019

• Total current rental income of £68,000 per annum

• Low base rent - reversionary income

• Active management opportunities

• A price of £650,000 is sought

• Reflecting a net initial yield of 9.98%

• Residential development opportunity (subject to planning)

• May consider sale of upper floors seperately

• On street permit parking available

• Building benefits from superfast broadband connection

Huntly Street

Bank Street

Ness Bridge

High Street

Bridge Street

Church Street

Subject Property

Shepherd CommercialMulberry House39-41 Harbour RoadInvernessIV1 1UA

Tel: 01463 712239

www.shepherd.co.ukThe Agents for themselves and for the vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise of the correctness of each item; (iii) no person in the employment of the Agents has any authority to make or give any representations or warranty whatever in relation to this property.February 2018

LOCATIONThe subjects are prominently situated on Huntly Street on the west side of the River Ness near to the main Ness Bridge within Inverness city centre. The property enjoys frontage and views over the river and is within easy walking distance to all amenities within the city centre. Recently completed streetscape works have considerably improved the area.

DESCRIPTIONThe traditional terraced 3-storey building is of masonry construction under a Mansard style slate and part flat roof. The building currently provides 2 separate retail units on the ground floor both with glazed entrance doors and glazed display frontage. The first and second floors provide office accommodation accessed from a doorway, set between the retail units at street level, leading to a stairwell to both upper floors. Neighbouring occupiers include the British Legion Club, The Kitchen restaurant, Premier Inn, The Carlton Club, STV (Inverness) and St Marys Catholic Church.

ACCOMMODATIONWe understand the subjects extend to the following approximate floor areas:

Address Floor m2 ft2 ITZA FT2

26 Huntly Street Ground floor retail unit 93 1,000 68428 Huntly Street Ground floor retail unit 97 1,040 83927 Huntly Street First Floor 184 1,981 27 Huntly Street Second floor 167 1,798

Total 541 (5,819)

LEASE DETAILSThe property is currently fully occupied with 4 tenancies in place. A summary of the current leases is detailed below:

Address Tenant Rent Per Annum FRI Lease Term Expiry EPC Rating 26 Huntly Street - Ground floor retail unit Run 4 It £13,000 10-year 2nd November 2018 F28 Huntly Street - Ground floor retail unit Way Ahead Salon £13,000 10-year 28th September 2019 G27 Huntly Street - 1st floor & part 2nd Floor Ritsons £27,000 25-year 30th September 2018 G27 Huntly Street - part 2nd floor Investment Services (Scotland) Ltd £15,000 17-year 30th September 2018 G

EPCDetails available on request.

SALE PRICEA price of £650,000 is sought, exclusive of VAT, in respect of our client’s heritable interest in the property with the benefit of the existing leases.

FURTHER INFORMATIONTo arrange a viewing or request further information, please contact the sole selling agents.

Sandy Renniesandy.rennie@shepherd.co.uk

Linda Cameronlinda.cameron@shepherd.co.ukTel: 01463 712239