Inshes Retail Park, Inshes Retail Park, Inverness, IV2 3TW
Availability
For Sale
Price
£24,200,000
Description
Offers of £24,200,000 (Twenty Four Million Two Hundred Thousand Pounds Sterling) exclusive of VAT are invited, reflecting a net initial yield of 8.25% rising to 8.75% in 2024
Location
Inshes Retail Park is located to the East of the City Centre accessed off the A9 via the B8082. Situated adjacent to Tesco, Dobbies and Aldi with Inverness College UHI located nearby, the part comprises 350,000 sq ft of accomodation in 6 units.
Key Points
- Dominant Retail Park 3 miles south of Inverness city centre
- Adjacent to a 24 hour Tesco Extra Supermarket, Aldi and Dobbies Garden Centre
- Large catchment population of 153,000, within a wider catchment of 304,000 persons. Limited leakage due to the lack of competing centres
- Inverness is the UK’s most northern city, with a population of 65,000 projected to grow at 4-5% in the next 10 years. Key business in the city include Life Sciences, Tourism, Retail, Construction, Public Administration, IT Services and activities relating to Forestry, Agricultural, Fisheries and Renewables
- Open Class 1 (non food) consent
- The scheme totals 158,814 sq ft, 8 units and 2 drive-thrus (Costa Drive-thru to be built)
- 617 car spaces giving a ratio of 1:257 sq ft
- Strong tenant covenants with a WAULT of 10.18 years (9.64 years to the breaks)
- Heritable interest (the equivalent of English Freehold)
- Low and affordable average rent of £13.33 per sq ft
- Passing rent of £2,132,074 per annum, rising, assuming our ERVs, to £2,260,011 per annum by September 2024
- Offers of £24,200,000 (Twenty Four Million Two Hundred Thousand Pounds Sterling) exclusive of VAT are invited, reflecting a net initial yield of 8.25% rising to 8.75% in 2024
Class
A1
dkeith@eyco.co.uk 
0131 558 5144 
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