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The White House, 50 Union Street, Inverness, Highland, IV1 1PX

For Sale - Under Offer

  • Tenure

    For Sale
  • Type

    Investment - Mixed
  • Price

    £480,000 Offers Over
  • Size

    1,862 Sq Ft
  • Ref No

    11908

Property Highlights

  • Superbly located corner position
  • FRI lease to Cru Hospitality Ltd expiring 17/7/2042
  • Fixed uplift to £43,70 pa in July 2022 with 5 yearly open market rent reviews thereafter
  • Offers over £480,000 (excluding VAT).
  • Attractive NIY of 7.98% increasing to 8.73% in July 2022

Overview

High profile restaurant and bar investment property for sale, situated within Inverness City Centre at the West end of Union Street, at its junction with Church Street.

The subjects cover the Ground Floor within a 3-storey, Grade B listed, building and is let to Cru Hospitality Ltd. It operates as a licensed restaurant trading as 'The White House' providing a cocktail bar and brasserie experience. Internally, the restaurant can accommodate approximately 60 covers plus a bar area and benefits from dual aspect windows looking out onto Union Street and Church Street.

The property is in a prime position to benefit from the surrounding regeneration works that promise to enhance the already high levels of footfall. On Union Street, Union Court is a development due to complete in Autumn 2022. The £12.5 million project will bring 4 new units to Union Street and 2 on Baron Taylor's Street.

Furthermore, behind Union Street, The Victorian Market regeneration project is underway. The project is costing £1.2 million and will contribute to the 600,000 strong footfall recorded in the city centre each year. The property is within a 5 minute walk of the developments and will benefit greatly from both.