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AGENT'S DETAILS

PROPERTY AGENT
Conor Scott

North Highland College UHI, Shore Road

For sale: POA|26580 Sq Ft|Other, Other Property Types & Opportunities

PROPERTY DETAILS

FOR SALEPOA
SIZE26580 Sq Ft
ADDRESSNorth Highland College UHI, Shore Road, Dornoch, IV25 3LS
TYPEOther, Other Property Types & Opportunities
TENUREFor Sale Freehold
POSTED ON24th January 2020

DESCRIPTION

Key Points

  • Located within the Moray and Highland regions of Scotland – Nairn and Dornoch – the sites offer strong communication links via the nearby A9 and A96 trunk roads.
  • Each property provides 40-beds within cluster flats (38-beds) and studios (2-beds).
  • Let to the University of the Highlands and Islands on 35 year lease terms, expiring in 2052, with no breaks
  • Total current passing rent of £280,028 following August 2018 RPI uplift.
  • Both leases benefit from annual rent reviews on a RPI linked basis, subject to a collar of 0% and cap of 5%.
  • Attractive running yield profile over the lease term
  • Summary

    Excellent opportunity to acquire two purpose-built student accommodation

    Description

    The property comprises purpose built student accommodation of modern construction in excellent condition. Only recently reaching practical completion in 2017 the building has a mixture of timber effect rain screen cladding and white render finishes, under pitched and slated roof coverings. All windows are double glazed and set within aluminium clad timber frames. The unit extends over ground and first floor levels and provides 40-beds (38 x En-suite Cluster Flats & 2 x Studio Apartments) internally each with a bed, bedside table / fitted unit, workstation, study chair, wardrobe, drawers, shelf, mirror and notice board. Each cluster flat benefits from a communal kitchen, lounge and dining room.

    Location

    Dornoch is a town and seaside resort in the Highlands of Scotland. It lies on the north shore of the Dornoch Firth, near to where it opens into the Moray Firth to the east. The town is within the county of Sutherland and Highland council area. Dornoch’s is located approximately 1.5 miles east of the A9 road, to which it is linked by the A949 and the B9168. The A9 is a major road running from the Falkirk council area in central Scotland to Thurso in the far north, via Stirling, Bridge of Allan, Perth and Inverness. At 273 miles it is the longest road in Scotland and is commonly referred to as ‘the spine of Scotland’. The subject property is located to the south of Dornoch town centre adjacent to The Meadows Business Park and only a short distance west of Royal Dornoch Golf Club.

    Specifications

    Lengthy income strip investment offering 34.5 years unexpired term certain. Lease benefits from annual RPI-linked rent reviews with a collar of 0% and cap of 5%.

    LOCATION

    Location: North Highland College UHI, Shore Road, Dornoch, IV25 3LS

    Tain (4.5 miles)

    Fearn (6.5 miles)

    Golspie (6.6 miles)

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