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Description

Currently Under Offer This property is offered for sale as an Investment sale Asking Price: Offers over £ 280,000 Last verified 12 August 2008 As indicated above the property benefits from being let to The Scottish Ministers with the occupier being the National Health Service. The lease was struck in July 2006 and is for a 10 year period, with a tenant's option to extend the lease period for a further 5 years. The rent payable under the lease is £24,500 per annum plus VAT, to be paid quarterly in advance, and this rent will be reviewed on an upwards only basis based on an RPI Index at the 5th anniversary. The lease terms are full repairing and insuring. Copies of the lease documentation can be made available to seriously interested parties. A Deed of Conditions exists in respect of the business park generally and a service charge agreement is in place covering the common parts of the business park. The seller's expectation is that the sale should be completed on or before 31st March 2008. Each party is to bear their own legal expenses incurred in this transaction however the purchaser will be responsible for any stamp duty, land tax, registration dues and VAT incurred therein. Offers in excess of £280,000 excluding VAT are sought. This represents a net yield of 8.43% after allowing for stamp duty and purchasers costs. It should be noted that VAT will be charged on the sale price quoted above. Entry to be mutually agreed. Viewing strictly by appointment. Further details are available upon application to the marketing agents.

Comments
The subjects comprise a modern single storey detached purpose built office block which is presently let to The Scottish Ministers and has been fitted out by the tenant to form an NHS Dental Surgery.
The subjects are located within Wick Business Park which lies on the outskirts of Wick, on the A99 Inverness / John O'Groats road. Wick Business Park was developed by HIE Caithness & Sutherland and comprises the subjects, a number of similar properties and a number of as yet undeveloped serviced sites.

Property Parts


Features
Open Plan Layout
Single Floor
Double Glazing
Nearest Airport - Inverness Airport

Notice
Unless otherwise indicated, all information displayed is copyright © 2008 Scottish Property Network Limited.  Information provided, including information on any property identified as available for sale, lease or disposal can not be guaranteed accurate and should not be regarded as an offer to sell, lease, or otherwise dispose of that property.