The Byre is the ground floor unit of a multi-storey building within a modern development, constructed in 2008. The current business has been operating within its current location since Feb 2010. The shop is currently a popular venue for residents and tourists to purchase a range of bespoke furniture and household / gift items. Tenants may change the trading model to suit their own requirements. The internal trading aspects are open plan and benefit from an office / store / staff area plus disabled W.C. An excellent modern unit situated in a popular trading area of Inverness, The Byre’s prominent position offers superb marketing exposure. The lease is available as a going concern, where stock will be purchased at cost or where new operators wish can be leased as vacant unit.
The Byre presently trades in the retail sale of furniture, home accessories and gifts with the benefit of a loyal customer base. The business, in addition to its superb location, has a modern and highly functional website (www.thebyrefurniture.co.uk) however the current owner has not promoted or updated this to take advantage of the growing internet opportunities offering superb development potential for new owners. The shop offers a wide range of goods from furniture, lighting, art works, ornaments etc. The business is well-known for its traditional highland themes, especially the sale of stag and highland cow related items, making it popular with tourists. The business trades to a modest level of turnover by dint of the current operation. However, it is strongly believed that new owners could take the business to a higher level with more proactive marketing.
The unit is situated close to Inverness bus park & railway station and on the thoroughfare linking Academy Street and Railway Terrace to the A82 Longman Road which generates a high degree of footfall by both residents and visitors. Within the vicinity of The Byre are a number of national retailers and cafes which also add to passing trade.
Inverness is the commercial and administrative centre for the Highlands of Scotland. It is one of the fastest growing cities in the UK with a resident population in excess of 65,000 and a geographical shopping catchment area spanning 10,000 square miles, with a potential catchment population of around 200,000. The unit occupies a prominent position on Strothers Lane where there are two car parks nearby providing around 1000 spaces. Adjacent businesses include TK Maxx, Sports Direct, M & Co, Pizza Hut, the Post Office and Artysan’s Cafe.
Inverness has extensive facilities for residents and visitors boasting two golf courses, a theatre (Eden Court), an excellent indoor swimming complex, cinema, bowling and ample opportunity to enjoy evening entertainment at a range of venues. Inverness is a busy tourist destination with its population swelling greatly in the main tourist season. Whether it is a whisky trail, a boat trip on Loch Ness or a visit to one of the many accessible Scottish castles, the property is ideally situated to catch the eye of the many tourists who choose to visit. Inverness is a vibrant and growing City and with such expansion comes many opportunities in both commerce and social activities. Such growth benefits established businesses and ensures a year-round trade potential.
REASON FOR SALE
The current owners have traded The Byre since Feb 2010, mainly under management. Due to other work commitments and family pressures they have decided to sell or lease the business as a going concern or empty unit.
The Byre can be accessed via a street level single-entry point off Strothers Lane via glazed double doors. The property benefits from a substantial frontage mainly set to glass. There are residential units above the property which are not included in the sale. The subjects are split into two main areas; the main retail area extends to about 200.5m2 and a staff / storage area of around 20.8m2, combining to extend to 221.3m2. The property is of modern construction and comprises the ground floor level only; the trading area is set to open plan configuration and benefits from attractive light fittings and flooring. The staff and storage facilities are finished to a high standard. The shop has a number of fixtures and fittings which are included in the sale. To the rear of the property is a communal fire escape.
The unit benefits from mains electricity, water and drainage.
The property has a rateable value of £28,000 as at April 2017 with an annual net liability of £13,048.
Rent: £21,000 p.a. rent
Rent Payments: Quarterly in advance
Rent Reviews: Every Five years in line with RPI.
Lease Duration: 10 Years; 5-year break clause.
Lease Type: Full Repairing and Insuring; lessee bears the cost of insurance
Key Entry Details: Condition survey carried out by mutual Agreement and shared cost
The Energy Rating of the property is D.