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8-24 Union St 2,374 SF Retail Condo Unit Offered at $841,610 CAD in Inverness IV1 1PL



INVESTMENT HIGHLIGHTS
- Prime city centre retail investment for sale
- Attractive retail units
- Combined annual rental income of £47,250
EXECUTIVE SUMMARY
The subjects occupy a prominent position on the north side of Union Street, directly opposite Union Court, the largest City Centre mixed use development in over a decade. The street also benefits from being the main route linking Church Street to Inverness Train Station hosting over 1.5 million passengers every year. Falcon Square and the Eastgate Shopping Centre is also just a minutes walk away. Nearby occupiers include Oil & Vinegar Deli, Virgin Money Bank, Allsorts Gift Shop, Rebel Row Clothes Store and Union Dental And Facial Solutions. 12 Union Street comprises a double windowed retail unit arranged over the ground and basement floors of a four storey stone built building under a pitched and slated roof. Internally, the premises are fitted out to a high standard as a Harry Gow Bakery, with a customer serving area at the front and food preparation and W.C facilities to the rear. The basement is used for ancillary storage and staff room. 14 Union Street comprises a single windowed retail unit, arranged over the ground and basement floors. Internally the premises are fitted out at ground floor to provide a hair and beauty salon with ancillary storage and W.C facilities to the rear. The basement comprises 2 beauty treatment rooms and a tea prep area.
PROPERTY FACTS
| Total Building Size | 14,782 SF | Typical Floor Size | 2,956 SF |
| Property Type | Office (Condo) | Year Built | 1863 |
| Building Class | B | Lot Size | 0.09 AC |
| Floors | 5 |
| Total Building Size | 14,782 SF |
| Property Type | Office (Condo) |
| Building Class | B |
| Floors | 5 |
| Typical Floor Size | 2,956 SF |
| Year Built | 1863 |
| Lot Size | 0.09 AC |
AMENITIES
- Accent Lighting
- Automatic Blinds
- Storage Space
1 UNIT AVAILABLE
Unit 12&14
| Unit Size | 2,374 SF | Sale Type | Investment |
| Price | $841,610 CAD | Tenure | Freehold |
| Price Per SF | $354.51 CAD | Cap Rate | 10.02% |
| Condo Use | Retail | NOI | $84,329.36 CAD |
| Unit Size | 2,374 SF |
| Price | $841,610 CAD |
| Price Per SF | $354.51 CAD |
| Condo Use | Retail |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 10.02% |
| NOI | $84,329.36 CAD |
DESCRIPTION
12 Union Street is let to Culloden Foods Ltd (T/A Harry Gow Bakers) on an extended, full repairing and insuring lease expiring on 10th January 2034. The passing rent is £28,250 per annum with an upward only rent review on 10th January 2030 and no further break options. 14 Union Street is let to Rumours Boutique Ltd (T/A Rumours Salon and Boutique) on a full repairing and insuring lease expiring on 13 February 2032. The passing rent is £19,000 per annum with an upward only rent review and tenant only break option on 14th March 2027.
SALE NOTES
Offers in Excess or £452,500 (FOUR HUNDRED AND FIFTY TWO THOUSAND FIVE HUNDRED POUNDS) exclusive are invited for our clients heritable interest. A purchase at this level would reflect an attractive net initial yield of 10.02%.
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8-24 Union St
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