A building that is home to six businesses in the heart of Inverness is up for auction next week, with a guide price of £570,000.
Tenants include Caledonian Sleeper Services and a barbershop.
Shepherd Chartered Surveyors is putting the mixed-use office and retail “investment opportunity” at 1-5 Union Street under the hammer through SDL Property Auctions.
The Category B listed building – directly opposite Inverness Railway Station – is currently earning the unnamed seller rent totalling £67,250 a year, Shepherd said.
We anticipate keen interest in this lot when it goes under the hammer.”
Neil Calder, Shepherd Chartered Surveyors
But the estimated potential rental value is £75,250 annually, which Shepherd said could be achieved through the letting of the second floor office suite and asset management.
Neil Calder, partner in the firm’s Inverness office, added: “Offering an attractive blend of covenants together with asset management opportunities, we anticipate keen interest in this lot when it goes under the hammer.”
Busy location
The property is n the corner of Union Street and Academy Street, within close walking distance of a range of local shops and banks.
It dates back to 1863 and, according to Shepherd, “incorporates an array of carved stone features throughout”.
The accommodation comprises two retail units on the ground and basement floors, plus five office suites on the first and seconds.
Would-be buyers can register their interest at www.sdlauctions.co.uk/buy-property/telephone-proxy-internet-bidding/
Grantown property for sale
The auction will be broadcast online, starting at 2.30pm on Tuesday.
Commercial property and development land opportunities across Scotland are up for grabs, with guide prices starting at £7,500.
The lots include a large former care home, with 45 bedrooms, in Grantown.
According to Shepherd, this property is suitable for a range of alternative uses, subject to planning consent. It has a guide price of £260,000.
Lot 14 in our upcoming auction on 28th February 2023 is Jasmine House, Hillview Rd, Aberdeen AB12 3HB with a guide price of £250,000. Further info can be found via – https://t.co/u7EqJWh0Uh #commercialproperty #commercialauction #propertyauction #shepherdcharteredsurveyors pic.twitter.com/znHM6kgP4M
— Shepherd Surveyors (@shepherdsurvey) February 17, 2023
Shepherd managing partner Steve Barnett said: “A growing number of commercial property purchasers, investors and vendors are becoming well versed in transacting via our online auction site.
“Auctions offer the ability to sell all types of commercial property through our expansive network, whilst being able to offer transparency and simplicity of the process.
The full auction listing can be viewed at www.shepherd.co.uk/auction-catalogue
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