A B-listed office building in Inverness has been sold to new owners for £505,000.
The two and a half storey building on Ardross Street is let to accountancy firm Azets.
Neither the identity of the private investor who bought the building nor the buyer has been disclosed.
However Allied Surveyors Scotland who marketed the building said the landlord had owned the property since 2013 and decided to bring the property to market “due to other new business commitments”.
The sale price achieved is a little higher than the offers over £495,000 tag set for the freehold purchase of the property with sitting tenants.
ASG Commercial acted as joint agent in the sale with Allied Surveyors.
The building is among a row of villas in Ardross Street built between 1878 and 1889 by the celebrated Inverness architect and former city Lord Provost, Alexander Ross.
The 4,195 sq ft a traditional, stone-built Victorian building is fully let until 2025.
Rental is currently set at £40,800 a year for the main tenant and £3,000 per annum for each of the tenants on the second floor.
The sale reflects a net initial yield (rental yield taking into account costs of buying the property) of 7.73%.
Allied Surveyors director Andy Gray said: “Due to the attractive nature of the income from an established professional business coupled with the lease term remaining, we received good levels of interest.”
Allied Surveyors employs 160 people
Allied Surveyors Scotland is one of the country’s largest independent firms of chartered surveyors with 32 offices including five commercial centres in Aberdeen, Dumfries, Edinburgh, Glasgow and Inverness.
In November its Edinburgh commercial agency department relocated to larger premises in the city’s West Maitland Street.
The firm currently employs around 160 people handling residential and commercial valuation, building surveying, home reports, energy reports and project management.
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