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9 & 11 Longman Road, Inverness, IV1 1SL

Availability

Let

Rent

Rent on application

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.

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%.
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Get in Touch

See Bio
Duart Keith Partner

Duart joined EYCO in 1995 having spent the previous 4 years based in Glasgow with James Barr & Son and Grimley JR Eve. He is a partner and heads up the Investment team. He advises on retail warehousing throughout the UK, as well as more local retail, business and office investment transactions.
Duart is a keen runner (often out with his dog), skier and rugby enthusiast.
See Bio
Gregor Martin Partner

Gregor joined the business 11 years ago from Kenmore Property Group. He is a partner in the Investment team, where he advises on commercial property investment transactions throughout the UK, with particular emphasis on retail, office and industrial assets in Scotland. He acts on behalf of a variety of clients including private investors, property companies, banks and institutional funds.
You'll find Gregor out walking a lot, either with a dog or a set of golf clubs, if not both.
Meet the team