Shepherd to auction multi-let mixed use investment opportunity in Inverness

Shepherd to auction multi-let mixed use investment opportunity in Inverness

Shepherd Chartered Surveyors is set to auction a multi-let retail and office mixed use investment opportunity at 1-5 Union Street, Inverness.

Occupying a prominent corner location on the eastern end of Union Street at its junction with Academy Street, directly opposite Inverness Railway Station, the property is centrally located within close walking distance of a range of shops and banks and the main Eastgate Shopping Centre is close by.

The substantial mixed-use commercial building is Category ‘B’ Listed dating to 1863 and incorporates an array of carved stone features throughout.

The accommodation currently comprises two retail units laid over the ground and basement floors plus five office suites laid over the first and second floor levels within the building. The larger retail unit incorporates the basement floor.

A mix of cellular and open plan office suites are provided on either side of the central staircase with common toilet facilities provided on each of the floor landings.

The property is currently let to six tenants with a current aggregate rental income of £67,250 per annum. The Estimated Rental Value is £75,250 per annum which can be achieved through the letting of the second-floor suite and asset management.

Neil Calder, partner in the Inverness office of Shepherd Chartered Surveyors, said: “Offering an attractive blend of covenants together with asset management opportunities, we anticipate keen interest in this lot when it goes under the hammer later this month.”

With a guide price of £570,000, the property will be auctioned on Tuesday 28th February 2023 at 2.30pm. Interested parties should register at: https://www.sdlauctions.co.uk/buy-property/telephone-proxy-internet-bidding/. The online catalogue can be viewed here: https://www.shepherd.co.uk/auction-february2023/

ENDS

For further information please contact Neil Calder at Shepherd on tel 01463 712239