Heritable (Scottish Equivalent of Freehold) Retail Investment
Let to Indigo Sun Retail Limited (t/a Heat Wave) until 2018
The tenant’s 37 stores reported a turnover of £9,935,930 to 30/09/2012 (1)
Rent review outstanding from 27th January 2013
Neighbouring occupiers include Clydesdale Bank, Santander, Barclays Bank and the Eastgate Shopping Centre
Inverness has one of the fastest growing populations and economies in the UK and is consistently ranked as one of the best for quality of life
Lot 43
Auction 27th March 2014
Rent £30,500 per Annum Exclusive
Status Sold
Price £175,000
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
102 miles north-west of Aberdeen
157 miles north of Edinburgh
162 miles north of Glasgow
Roads
A9, A96, A82
Rail
Inverness Railway Station
Air
Inverness Airport
Situation
The property is well located on the north side of Union Street, one of Inverness’ principal retailing streets, close to both the High Street and the Eastgate Shopping Centre. Neighbouring occupiers include Barclays Bank, Santander, Clydesdale Bank, First Choice, Slaters, Rogerson and British Heart Foundation.
Tenure
Freehold. Heritable (Scottish Equivalent of Freehold).
Location
Miles
102 miles north-west of Aberdeen
157 miles north of Edinburgh
162 miles north of Glasgow
Roads
A9, A96, A82
Rail
Inverness Railway Station
Air
Inverness Airport
Situation
The property is well located on the north side of Union Street, one of Inverness’ principal retailing streets, close to both the High Street and the Eastgate Shopping Centre. Neighbouring occupiers include Barclays Bank, Santander, Clydesdale Bank, First Choice, Slaters, Rogerson and British Heart Foundation.
Tenure
Freehold. Heritable (Scottish Equivalent of Freehold).
Description
The property comprises a ground floor retail unit providing good open retail space with additional storage and staff accommodation.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit providing good open retail space with additional storage and staff accommodation.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground Ground
Retail Ancillary
75.14 sq m 24.00 sq m
(809 sq ft) (258 sq ft)
INDIGO SUN RETAIL LIMITED (t/a Heat Wave) (1)
15 years from 27/01/2003 on a full repairing and insuring lease
£30,500 (2)
26/01/2018
Totals
99.14 sq m
(1,067 sq ft)
£30,500
(1) Indigo Sun Retail Ltd was incorporated on 14th May 1990 and offers award winning tanning services from 37 salons nationwide, mainly located in Scotland. (Source: www.indigosun.co.uk 21/02/2014). For the year ending 30th September 2012, Indigo Sun Retail Ltd reported a turnover of £9,935,930, a pre-tax loss of £350,661 and a total net worth of £1,812,628. (Source: www.riskdisk.com 10/02/2014). (2) Rent review outstanding from 27/01/2013.
