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Retail Units & Shops

Inverness-shire

Inverness

property

Let

9 & 11 Longman Road Longman Road, Inverness, IV1 1SL

Use Class

Rent pa

POA

Market Sector

Retail & Shopping Park

Key Features

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%.

Description

ADJACENT SOLUS RETAIL WAREHOUSE INVESTMENTS

Location

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.

Disclamier

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.