RETAIL INVESTMENT FOR SALE – NAIRN

For Sale
  • OFFERS OVER £135,000
  • 951 FT²
  • LEASED UNTIL 2032
  • LEASED TO ESTABLISHED TENANT
  • 8% YIELD

LOCATION

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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, award-winning beaches, a community centre/mid-scale 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.

DESCRIPTION

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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.

LEASE DETAILS

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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.

COVENANT

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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.

PROPOSALS

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

FLOOR AREAS

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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 m2/951 ft2

PLANNING

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

EPC

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A copy of the EPC will be available upon request.

RATING

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RV £7,600.

CLOSING DATE

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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.

VAT

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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.

PUBLICATION DATE 20/06/2022

Price:Offers over £135,000
Address:1-2 Leopold Street
City:Nairn
Postcode:IV12 4BE
Floors:1
Square Feet:951
Parking:Nearby
Property Type:Retail Investment
Lot size:951
Tagged Features:

Location Map