The subjects comprise a 3-storey detached standalone modern office pavilion of masonry block construction rendered externally under a pitched and slated roof with a glazed feature entrance.
The accommodation benefits from a high quality entrance and common areas, raised access floors, integrated comfort cooling and heating systems, carpeting throughout, toilet, shower and kitchen facilities as well as lift access between floors. 26 dedicated car parking spaces are allocated to the property.
Location
Inverness is the commercial and administrative centre for the Highlands of Scotland with a resident population in excess of 65,000. The city has a potential catchment population of 350,000 and is a popular tourist destination. Inverness is connected to Edinburgh (150 miles), Glasgow (170 miles) and the wider Scottish motorway network via the A9 trunk road. The A96 trunk road connect the city to Aberdeen in the south east and the A82 to Fort William in the west. The main line railway station is situated in the city centre and provides direct services to Glasgow, Edinburgh and London. Inverness Airport is approximately 8 miles east of the city centre at Dalcross and provides daily services to most of the major UK airports.
The subjects are located within Stoneyfield Business Park lying approximately 1 mile east of Inverness city centre. Stoneyfield Business Park is well located and has direct access onto the A96 and is only a short distance from all amenities offered at Inverness Retail & Business Park. Nearby occupiers include Ernst & Young LLP, Westminster Healthcare, Hazel House Dental Practice, Howdens Garden Centre and a Travel Lodge Hotel.
Accommodation
The net internal area extends to approximately 696.77 sq m (7,500 sq ft), each floor provides circa 232.25 sq m (2,500 sq ft). There are toilet and shower facilities within the central core area.
Terms
PROPOSAL - Our client’s heritable interest (Scottish equivalent of Freehold) is available to purchase at offers over £1,350,000, exclusive of VAT, subject to and with the benefit of the existing leasehold agreement. A purchase at this level represents a net initial yield of 8.10% after allowing for normal purchasers costs.
Specification
- MODERN OFFICE BUILDING WITH DEDICATED CAR PARKING
- LET TO THE SCOTTISH MINISTERS (NHS HIGHLAND)
- FRI LEASE EXPIRING IN MARCH 2020
- RENTAL INCOME: £115,404 PER ANNUM
- FLOOR AREA 697 SQ M (7,500 SQ FT)
- NET INITIAL YIELD: 8.10%