Retail Investment For Sale – Nairn

Offers over £135,000

Full Description


1-2 Leopold Street, Nairn, IV12 4BE

The subjects comprise a ground floor retail unit contained with a detached two storey building of brick construction.
Internally the unit benefits from a large open plan retail area with a rear store and w.c. There is a small basement area accessed by a hatch which is used for additional storage.

The property is currently leased for £11,000 per annum to Highland Hospice on a 10 year lease with a break option at the end of year 5. There will be a rent review at the end of year 5 upward only to market rent.
Highland Hospice provides services throughout the Highland region having commenced operations in 1987. The Hospice are a significant financial concern with Shareholders Funds in excess of £18m.

Offers over £135,000 are invited for the Heritable interest.

From sizes taken during our inspection we calculate the subject property, measured in accordance with the RICS Code of Measurement Practice (second edition, January 2018) to extend to the following approximate net internal area (NIA):
Total 88.38 m²/951ft²

All queries in relation to redevelopment/ reconfiguration of the subjects should be addressed to Highland Council Planning Department.

A copy of the EPC will be available upon request.

Rateable value £7,600.

A closing date may be set and all interested parties should make a note of interest at the offices of the Sole Agent. We reserve the right to sell the property without setting a closing date and we are not obliged to accept the highest or indeed any offer for the sale of the property.

An option to be taxed has been made on the property. It is expected the sale will be treated as a transfer of going concern.

Key Features

  • OFFERS OVER £135,000
  • 951 FT²
  • 8% YIELD

Location Information

Nairn is a town and former burgh in the Highland council area of Scotland. It is an ancient fishing port and market town around 17 miles (27 km) east of Inverness. It is the traditional county town of Nairnshire.
As of the 2011 Census, Nairn had a population of 9,773, making it the thirdlargest settlement in the Highland council area, behind Inverness and Fort William. Nairn is best known as a seaside resort, with two golf courses, awardwinning beaches, a community centre/midscale arts venue (Nairn Community & Arts Centre), a small theatre and one small museum, providing information on the local area and incorporating the collection of the former Fishertown museum.
The subjects are located on the north side of Leopold Street occupying a prime retail position in the town centre.