B-listed mixed-use Inverness building set for auction

SHEPHERD Chartered Surveyors will auction a multi-let retail and office mixed-use investment opportunity at 1-5 Union Street, Inverness.

Occupying a corner location, directly opposite Inverness Railway Station, the commercial building is B-listed and dates back to 1863. It incorporates carved stone features throughout.

The facility currently comprises two retail units laid over the ground and basement floors plus five office suites over the first and second floor levels. The larger retail unit incorporates the basement floor. A mix of cellular and open plan office suites are provided on either side of the central staircase.

The property is currently let to six tenants with a current aggregate rental income of £67,250 per annum. The estimated rental value is £75,250 per annum which can be achieved through the letting of the second-floor suite and asset management.

Neil Calder, partner in the Inverness office of Shepherd Chartered Surveyors, said, “Offering an attractive blend of covenants together with asset management opportunities, we anticipate keen interest in this lot when it goes under the hammer later this month.”

With a guide price of £570,000, the property will be auctioned on Tuesday 28th February 2023 at 2.30pm. Interested parties should register at: https://www.sdlauctions.co.uk/buy-property/telephone-proxy-internet-bidding/.