34 Union Street Inverness Inverness-Shire IV1 1PX

34 Union Street
Inverness
Inverness-Shire
IV1 1PX

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
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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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

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.