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EYCO

EYCO

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9 & 11 Longman Road

Longman Road

Inverness, IV1 1SL

Use Class E

£11,600,000

Use Class

E

Price

£11,600,000

Marketed by EYCO,

Last updated 16/02/2021

Key Points

  • Two strong 5A1 D&B rated covenants who have experienced resilient trading throughout the pandemic.
  • Combined total of 90,924 sq ft (61,810 sq ft B&Q and 28,484 sq ft for Wickes) on c. 8.1 acres (5.9 acres B&Q/2.2 acres Wickes).
  • Bulky goods DIY planning consents.
  • Affordable rents of £12.50 psf for B&Q (regeared in December 2020) with expiry June 2027 and £10.81 psf for Wickes with expiry in June 2024.
  • Total passing rent of £1,080,750 pa (B&Q £772,750 pa / Wickes £308,000 pa).
  • Offers over £11.6 million (excl VAT) sought reflecting a net initial yield of 8.73%.
ADJACENT SOLUS RETAIL WAREHOUSE INVESTMENTS 
Prominently located 0.75 miles north of Inverness city centre on the main arterial link between the city centre and the A9.
Catchment of c 153k persons with limited leakage due to lack of competing centres. Nearest B&Qs are 40 miles east in Elgin and 110 miles south in Perth; for Wickes the nearest store is also in Perth. 

Purchase Price

£11,600,000

Rates

Last Updated

16/02/2021

Misrepresentation Notice

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.

All data ©2021 Completely Property Technology Limited

EYCO

EYCO