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Insider UK
Business
Hamish Burns

Highland Bank of Scotland building is up for sale for £2.35 million

The property leased by Bank of Scotland in Inverness city centre is for sale for offers over £2.35 million.

The B-listed stone and slate, 7,900 sq ft building on Eastgate at the High Street and Inglis Street junction has been completely redeveloped behind the façade.

It is occupied by a general banking hall on the ground floor with office accommodation for back room banking staff and staff ancillary facilities on the two upper floors.

Neil Calder, partner in the Inverness office of selling agent Shepherd Chartered Surveyors, said: “This attractive property is let to Bank of Scotland, a tenant with a 5A1 covenant, to 2029 on a rebased rent of £150,000 per annum, which reflects an overall Zone A rate of £60 per sq ft. We anticipate keen interest in this rare opportunity to acquire a prime retail investment in Inverness.”

The asking price reflects a net initial yield of 6%.

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