Graham + Sibbald report strong demand in retail properties

Graham + Sibbald recently completed the sale of a small retail investment property at 4 Church Street, with a number of parties making a bid at closing date and recently have concluded the letting of the former Record Rendezvous, the latter acting on behalf of Highlands and Islands Properties ltd, who have shown commitment to Church Street with the £4,000,000 acquisition of the block of offices and shops at 8/14a Church Street. Refurbishment has been undertaken to the vacant units and there is firm interest in these properties. This coupled with streetscape refurbishment works which are being undertaken will regenerate the Old Town.  

Ian Leighton, Partner at Graham + Sibbald comments, “There seems to be a reasonable demand for retail properties assuming the landlords are realistic with regard to rental levels which they seek to achieve.”

Graham + Sibbald also report continuing strong demand for commercial and industrial properties in Inverness particularly in the Longman. There is now a significant shortage of land within Longman Industrial Estate and this has seen increase in demand for locations such as Dalcross and Muir or Ord. At Dalcross there are plans to establish Inverness Airport Business Park however there are major infrastructure problems which will require to be resolved. The current lack of space in the Longman means a solution is urgently required.

Contact details:
For further information please contact Iain D Leighton, FRICS, Partner at Graham + Sibbald, Inverness Office. Telephone: 01463 236977, email: ileighton@g-s.co.uk